empty
03.02.2025 12:15 AM
Bitcoin – Technical Analysis Overview

This image is no longer relevant

In January, Bitcoin reached a new all-time high, approaching the psychological level of $110,000. However, there was no significant upward momentum during the month. This stagnation, along with the detachment from the monthly short-term trend at $79,773.46, could lead to a downward correction. If bulls can maintain the upward movement, new historical highs may be possible, with psychological targets at $115,000 and $120,000.

This image is no longer relevant

On the daily timeframe, the market is currently exhibiting sideways movement and uncertainty around the daily short-term trend at 102,383. For the bulls to gain momentum and break free from this uncertainty, they need to overcome the tested resistance at 110,000 and aim for new highs. On the other hand, if the bears take control, they must target the weekly short-term trend at 99,497, break through the daily range between 99,497 and 97,021, and establish a position in the bearish zone relative to the daily Ichimoku cloud at 98,457. Successfully achieving these milestones will open up new bearish opportunities.

This image is no longer relevant

Currently, on the lower timeframes, Bitcoin is fluctuating around the weekly long-term trend level of 103,148. This movement is happening without significant changes in the angle of the trend, indicating a state of uncertainty in the market. Any development of a clear directional movement will alter the current balance of power and affect the slope of the trend. For intraday bullish traders, the classic Pivot resistance levels will be important reference points, while bearish traders will look to the classic Pivot support levels for guidance. Please note that Pivot levels are updated daily.

***

Technical Analysis Components:
  • Higher Timeframes: Ichimoku Kinko Hyo (9.26.52) and Fibonacci Kijun levels
  • H1: Classic Pivot Points and 120-period Moving Average (weekly long-term trend)
Evangelos Poulakis,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Signals for GOLD (XAU/USD) for April 3-5, 2025: buy above $3,055 (21 SMA - rebound)

If the gold price returns above the uptrend channel and consolidates above 3,075, the outlook could be bullish, and we could look for buying opportunities with a target at 3,125

Dimitrios Zappas 16:43 2025-04-03 UTC+2

EUR/USD – April 3rd: The Dollar Suffers Another Collapse

On Wednesday, the EUR/USD pair surged sharply. This movement can hardly be called a mere rise. When it comes to the U.S. dollar, it was another collapse—one of many seen

Samir Klishi 11:25 2025-04-03 UTC+2

GBP/USD – April 3rd: A Pointless End of the Week for the Dollar

On the hourly chart, the GBP/USD pair once again surged upward, breaking through a slew of levels and resistance zones. At this point, the British pound has risen

Samir Klishi 10:51 2025-04-03 UTC+2

Forex forecast 03/04/2025: EUR/USD, USD/JPY, SP500, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 09:57 2025-04-03 UTC+2

EUR/USD Forecast for April 3, 2025

Starting today, U.S. tariffs ranging from 10% to 50% will apply to nearly all of America's trading partners. Market participants were prepared and refrained from panic, although equity indices weakened

Laurie Bailey 05:07 2025-04-03 UTC+2

GBP/USD Forecast for April 3, 2025

GBP/USD Yesterday, Trump's sweeping tariffs on U.S. trading partners impacted the UK at the lowest rate—just 10%. In contrast, tariffs on EU goods were set at 20% and on Japanese

Laurie Bailey 05:07 2025-04-03 UTC+2

USD/JPY Forecast for April 3, 2025

USD/JPY After Washington imposed a 24% tariff on Japanese imports, the Nikkei 225 has decreased by 2.71% during today's Pacific session. The USD/JPY pair is falling by roughly 150 pips

Laurie Bailey 05:07 2025-04-03 UTC+2

Oil Forecast for April 3, 2025

Oil (CL) Market participants anticipate a disruption in global trade following President Trump's sweeping tariffs imposed yesterday on all U.S. trading partners. On the daily chart, the upper wick

Laurie Bailey 05:07 2025-04-03 UTC+2

#NDX – March Results and April Outlook

March concluded with a bearish candle that left a notable mark in the history books. Bears closed below the monthly short-term trend level (19,730) and eliminated the weekly golden cross

Evangelos Poulakis 01:07 2025-04-03 UTC+2

Trading Signals for EUR/USD for April 2-5, 2025: sell below 1.0815 (21 SMA - +1/8 Murray)

If the euro breaks and consolidates above the bearish trend channel, we could expect it to reach +1/8 Murray level at 1.0864 in the coming days. EUR/USD could even reach

Dimitrios Zappas 15:18 2025-04-02 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.