Bitcoin price analysis for March 2 comes on a bullish note for the token, which has surged more than 2% in the last 24 hours. It is also important to note that the nearest resistance for the token is $45K, with important support at $43K, as noted in our BTC price analysis for March 1. The chances for BTC breaking above $45K are not very high for today as volume has declined.
The data from CoinMarketCap shows that the trading volume of the token has declined by 13.79% in the last 24 hours, followed by a 2.7% rise in the market cap, which stands at around $839 billion. The Volume / Market Cap has a value of 0.03822, while the Market Dominance if the token stands shot up to 43.28%.
The daily candle for the token opened at a price of $44.4K and reached a daily high of $44.7K. Moreover, the daily low for the token stands at a price of $43.8K. It is to be noted that the support at $43K wasn’t broken, and prices remained above it. The price of 1 Bitcoin at the time of writing is $44.2K.
Bitcoin price analysis on the daily chart for March 2
Bitcoin price analysis for March 2 on the daily chart completes a bullish trajectory for the token as it aims to break the resistance of $45K.
The MACD line has broken above the signal line for Bitcoin, which means that we witnessed a bullish divergence and higher prices are possible.
The RSI reads a value of 60 which means bulls are in charge, but the gradient is negative for today. Prices to remain sluggish.
The price action is the sitauted in the upper end of the Bollinger Bands for Bitcoin, which means buying pressure is high.
The Bitcoin price analysis for March 2 is concluded on a sluggish note because BTC has failed to break above $45K, an important resistance.