Share:
  • BTC/USD consolidates in a narrow range.
  • Intraday RSI implies no breakthrough in the nearest future.

One Bitcoin goes for $3,826 ant the time of writing, which is 1% more expensive than this time on Monday. While the recovery is shallow is still to gain ground, a sustainable move above $3,800 may bring some relief for short-term BTC bulls. 

Notably, the prices are supported by SMA100 (4-hour) currency ant $3,735. This area has been limiting the decline since Sunday. If it is cleared, the sell-off may be extended towards $3,600 with SMA200 (4-hour) located right below this handle. This barrier is likely to stop the downside and attract new buyers to the market. Otherwise, BTC/UDS will experience an increased downside pressure and move to explore new lows at $3,300. 

On the upside, the short-term recovery is capped by $3,880 (SMA50 4-hour, SMA50 1-hour, SMA200 1-hour) and psychological $3,900, strengthened by SMA100 1-hour). Once above, $4,000 will come into focus once again. However, we will need a convincing catalyst to drive the price above this level after the weekend’s failure. 

Considering that the Relative Strength Index is flat, in the neural territory on all intraday charts, we may suggest that the coin will continue the rangebound trading with a mild bullish bias. 
 

BTC/USD, 4-hour chart


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

Dogecoin Price Prediction: DOGE refuses to let WIF have all the fun

Dogecoin Price Prediction: DOGE refuses to let WIF have all the fun

Dogecoin is leading meme coins north, even though Dogwifhat is outperforming it. With DOGE defending the gains, the upside potential remains alive and the meme coin could reclaim its March 2 peak. If Dogecoin price loses the $0.1356 support, it could weaken the bullish thesis, paving the way for an extended fall.

More Dogecoin News

Celo price confirms breakout after CELO L2 migration details

Celo price confirms breakout after CELO L2 migration details

Celo price broke out 15% on March 1, when the network executed its migration to Layer 2. CELO continues to hold above $1.1172, increasing the odds for a further upside. A break and close below $1.1022 would produce a lower low, provoking a continued drop.

More Celo News

Ethereum Price Prediction: The long game could see ETH climb 30%

Ethereum Price Prediction: The long game could see ETH climb 30%

Ethereum price has defended its range low of $884.51 since early 2021 while the $4,485.32 peak capped the upside. If ETH manages to close above $3,602.43, it could catalyze a continuation to the January 2021 peak. A break and close below the midrange of the channel at $2,684.92 would invalidate the bullish thesis.

More Ethereum News

GMX price could make a 50% climb as GMX’s daily chart is governed by a bullish pattern

GMX price could make a 50% climb as GMX’s daily chart is governed by a bullish pattern

GMX price has formed an inverse head and shoulder pattern on the daily timeframe. GMX could make a 49% climb if the price manages a daily candlestick close above $59.64 bullish. A break and close below $50.00 would invalidate the bullish thesis.

More GMX News

Bitcoin: BTC likely to correct to $50,000 soon

Bitcoin: BTC likely to correct to $50,000 soon

Bitcoin price has formed a potential top signal that forecasts a sell-off. The weekly chart also points to a bearish divergence, which adds credence to the bearish outlook. 

Read full analysis

BTC

ETH

XRP