FX.co ★ Technical analysis on Bitcoin for March 1st, 2023.

Green rectangle- resistance

Bitcoin has started March on a positive note as price is moving higher towards the horizontal resistance area around $23,700-$23,800. Previous support remains key short-term resistance. Price so far remains stuck below the $23,800 resistance area. Earlier today bulls tried to break above the horizontal resistance but failed. to maintain the bullish momentum. So far price is showing another rejection sign. Bitcoin remains vulnerable to more downside as long as price remains below the green horizontal resistance. Yesterday's low around $23,025 remains our most important short-term support.