FX.co - BTC update for March 04,.2022 - Potential for the downside continuation

4 March 2022 at 1:04PM (UTC+0)

Relevance until5 March 2022 at 1:04PM (UTC+0)

Technical analysis:

BTC update for March 04,.2022 - Potential for the downside continuation

BTC has been trading sideways in last 24 hours but I see potential for the downside continuation due to the topping activity from yesterday.

Trading recommendation:

Due to rounding top reversal in the background, I see potential for the downside movement.

Watch for potential selling opportunities in case of the downside breakout of the support at $41,000.

Downside objectives are set at the price of $39,815 and $38,135

Key resistance is set at the price of $42,700

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC update for March 04,.2022 - Potential for the downside continuation