BTC Maintains a Range of Shocks, and $50,000 Is a Short-term Resistance Level- Mar. 2nd

During the short-term contraction and rebound of BTC, the price was close to the $50,000 mark. Analysts believe that from the short-term performance of prices, it is currently range-bound, and the bullishness requires further breakthrough confirmation.

In terms of mainstream cryptocurrencies, most cryptocurrencies have expanded their gains along with the rise in BTC prices. BTC rose more slowly, and short-term selling pressure started from $49,000. This morning ( UTC 00:29, Mar. 2nd) BTC reached a maximum of $50,196 and then began to fall. On the daily line, the BTC point is still significantly lower than the 10-day moving average. In other words, BTC will continue to operate below the 10-day moving average, and the market will not have the possibility of a breakthrough in the short term.

In terms of Defi concept coins, the rebound strength of most cryptocurrencies exceeds the performance of mainstream cryptocurrencies. In the Defi concept, LINK and UNI are among the top gainers, opening up room for the rebound of most cryptocurrencies. At the same time, when the short-term growth rate has not reached a new high, the short-term selling pressure of related cryptocurrencies can be appropriately paid attention to.

Tag: xbt, cryptocurrency price, btc market, market analysis, 50K, resistance level

The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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[…] nearing reaching $53K yesterday, bitcoin has failed to stabilize above $50,000. Since BTC heavily dipped to $43,000 last Sunday, the leading cryptocurrency has been gradually […]

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