Bitcoin (BTC) Daily Price Forecast – March 6


Lighten-Up-Your-Monday-with-10-Bitcoin-Believer-Bull-Calls-on-the-Bright-Future-of-BTCs-Value
  • The crypto’s price is now trading above the $3,900 price level.
  • On the upside, if the price is sustained above the EMAs, the crypto will retest the $4,200 price level.

BTC/USD Medium-term Trend: Bullish

  • Resistance Levels: $6,800, $6,900, $7,000
  • Support levels: $3,800, $3,700, $3,600

Yesterday, March 5, the price of Bitcoin was in a sideways trend. The BTC price was ranging above the $3,700 price level. Yesterday, it was assumed that the BTC price would further depreciate to the $3,600 price level since the price was in the bearish trend zone. Today, the bulls have broken the 12-day EMA and the 26-day EMA to reach the bullish trend zone.

The crypto’s price is trading above the $3,900 price level. In the bullish trend zone, price tends to rise. On the upside, if the price is sustained above the EMAs, the crypto will retest the $4,200 price level. However, the BTC price may face resistance at the $4,200 price level. On the downside, the crypto’s price is retracing and if it breaks below the EMAs, the price of Bitcoin will fall. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The BTC price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.

BTC/USD Short-term Trend: Bullish

On the 1-hour chart, the BTC price is in the bullish trend zone. Yesterday, the BTC price broke above the EMAs and reached a high of $3,931. The crypto’s price is now rising in a sideways trend.

The retraced price is now testing the 12-day EMA probably to commence another bullish movement. Today, the crypto’s price is above the EMAs indicating that price is in the bullish trend zone. The MACD line and the signal line are above the zero line which indicates a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.



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