BTC/USD Multi-Timeframe analysis (03/03/2021)

Hi Traders

BTC/USD Multi-Timeframe analysis (03/03/2021)

H1 Chart ( Strong Down )

Waiting for a retracement higher towards the 48331.90 resistance level in order to reinstate SHORT positions. Next important resistance is the 49740.95 level.

Support & Resistance
47500.56 48331.90
47208.08 49740.95
46091.51 50237.68

H4 Chart ( Weak Down )

No comment for now

Support & Resistance
44919.20 52042.20
43015.60 53949.60
40478.60 56486.60

Daily Chart ( Bullish )

A high probability, entry signal to go LONG was given at 49820.43 after the market found support at 42753.88 . Only the downward break of 42753.88 would cancel the bullish scenario.

Support & Resistance
41980.04 49558.71
28766.47 58349.00
19719.76 67395.71

Weekly Chart (Neutral)

The market is dominated by uncertainty. The occasionally prevailing trend lasts for a limited time and changes its direction too frequently. As long as the market remains unstable, we stay aside, waiting for the market to get back on track.

Support & Resistance
N/A
N/A
N/A