BTC UPDATE
Daily Market Overview and Thoughts: March 5
4H TF:
Bitcoin has successfully broken through the $86,000 resistance level and is now testing the next major barrier at $89,000. The RSI has crossed above 50, indicating potential for another push into the seller zone.
The key resistance ahead is at $90,500.
I anticipate a pullback below the local low of $81,500, triggering stop-loss orders on long positions before the next wave of growth. Interestingly, CoinGlass data shows that the highest liquidity this past week has accumulated around $95,000. This suggests that after a short-term correction, Bitcoin may recover toward $95,000, potentially fueled by positive news from the Trump administration.
Daily Market Overview and Thoughts: March 5
4H TF:
Bitcoin has successfully broken through the $86,000 resistance level and is now testing the next major barrier at $89,000. The RSI has crossed above 50, indicating potential for another push into the seller zone.
The key resistance ahead is at $90,500.
I anticipate a pullback below the local low of $81,500, triggering stop-loss orders on long positions before the next wave of growth. Interestingly, CoinGlass data shows that the highest liquidity this past week has accumulated around $95,000. This suggests that after a short-term correction, Bitcoin may recover toward $95,000, potentially fueled by positive news from the Trump administration.
