BTCUSD Technical Analysis as of 3/2/2025
BTCUSD
Technical Analysis:
Note: The following analysis is based on standard technical indicators and chart patterns. For a comprehensive assessment, it's advisable to consult detailed charts and possibly a financial advisor.
Exponential Moving Averages (EMA):
15-Minute Chart (M15): The 50-period EMA is below the 200-period EMA, indicating a short-term bearish trend.
1-Hour Chart (H1): The 50-period EMA is converging towards the 200-period EMA, suggesting potential consolidation.
4-Hour Chart (H4): The 50-period EMA is above the 200-period EMA, indicating a longer-term bullish trend.
Support and Resistance (S&R):
Immediate Support: $92,000
Immediate Resistance: $100,000
A break above $100,000 could open the path towards $106,000, while a decline below $92,000 might lead to a test of $87,000.
Fibonacci Retracement Levels:
Applying Fibonacci retracement from the recent swing low to swing high:
38.2% Retracement: $94,000
50% Retracement: $92,000
61.8% Retracement: $90,000
These levels may act as potential support zones in case of a pullback.
Alligator Indicator:
On the M15 chart, the Alligator's Jaw (blue line), Teeth (red line), and Lips (green line) are intertwined, indicating a lack of clear trend.
On the H1 and H4 charts, the lines are aligned upwards, suggesting a bullish trend.
Candlestick Patterns:
Recent charts show the formation of bearish Marubozu candles on the M15 timeframe, indicating strong selling pressure.
Chart Patterns:
A potential diamond pattern is forming on the H1 chart, which could indicate a trend reversal if confirmed.
Supply and Demand Zones:
Rally-Base-Rally (RBR): Identified around $93,000, indicating a strong demand zone.
Rally-Base-Drop (RBD): Observed near $100,000, suggesting a potential supply zone.
Elliott Wave Analysis:
The current structure appears to be in Wave 4 of a 5-wave impulsive pattern, typically a corrective phase before the final upward movement.
Gann Analysis:
According to the Gann Square of Nine, significant price levels to watch are $92,000 and $100,000, which align with key angles.
Trade Recommendations:
Buy Limit Order:
Entry: $94,000
Stop Loss (SL): $92,000
Take Profit (TP): $100,000
Sell Limit Order:
Entry: $100,000
Stop Loss (SL): $102,000
Take Profit (TP): $94,000
Technical Analysis:
Note: The following analysis is based on standard technical indicators and chart patterns. For a comprehensive assessment, it's advisable to consult detailed charts and possibly a financial advisor.
Exponential Moving Averages (EMA):
15-Minute Chart (M15): The 50-period EMA is below the 200-period EMA, indicating a short-term bearish trend.
1-Hour Chart (H1): The 50-period EMA is converging towards the 200-period EMA, suggesting potential consolidation.
4-Hour Chart (H4): The 50-period EMA is above the 200-period EMA, indicating a longer-term bullish trend.
Support and Resistance (S&R):
Immediate Support: $92,000
Immediate Resistance: $100,000
A break above $100,000 could open the path towards $106,000, while a decline below $92,000 might lead to a test of $87,000.
Fibonacci Retracement Levels:
Applying Fibonacci retracement from the recent swing low to swing high:
38.2% Retracement: $94,000
50% Retracement: $92,000
61.8% Retracement: $90,000
These levels may act as potential support zones in case of a pullback.
Alligator Indicator:
On the M15 chart, the Alligator's Jaw (blue line), Teeth (red line), and Lips (green line) are intertwined, indicating a lack of clear trend.
On the H1 and H4 charts, the lines are aligned upwards, suggesting a bullish trend.
Candlestick Patterns:
Recent charts show the formation of bearish Marubozu candles on the M15 timeframe, indicating strong selling pressure.
Chart Patterns:
A potential diamond pattern is forming on the H1 chart, which could indicate a trend reversal if confirmed.
Supply and Demand Zones:
Rally-Base-Rally (RBR): Identified around $93,000, indicating a strong demand zone.
Rally-Base-Drop (RBD): Observed near $100,000, suggesting a potential supply zone.
Elliott Wave Analysis:
The current structure appears to be in Wave 4 of a 5-wave impulsive pattern, typically a corrective phase before the final upward movement.
Gann Analysis:
According to the Gann Square of Nine, significant price levels to watch are $92,000 and $100,000, which align with key angles.
Trade Recommendations:
Buy Limit Order:
Entry: $94,000
Stop Loss (SL): $92,000
Take Profit (TP): $100,000
Sell Limit Order:
Entry: $100,000
Stop Loss (SL): $102,000
Take Profit (TP): $94,000
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