Bitcoin reclaims $43K: BTC needs to break above $45K to confirm uptrend

Bitcoin price analysis for March 1 comes on a bullish note for the biggest cryptocurrency in the world as the token has surged more than 14% in the last 24 hours. Investors can expect further bullish movement if the token reclaims $45K. As witnessed in our BTC price analysis for February 28, the token broke above $40K resistance. 

The data from CoinMarketCap shows that the trading volume of the token has surged 56.89% in the last 24 hours, followed by a 14.57% rise in the market cap, which stands around $821 billion. The Volume / Market Cap has a value of 0.0463, while the Market Dominance if the token stands shot up to 42.99%. 

The daily candle for the token opened at a price of $43.1K and reached a daily high of $43.7K. Moreover, the daily low for the token stands at a price of $42.8k. It is to be noted that the support at $42K has been held and wasn’t broken. The price of 1 Bitcoin at the time of writing is $43.2K.

Bitcoin price analysis on the daily chart for March 1

Bitcoin price analysis for March 1 on the daily chart includes a bullish prediction for the token as it aims to enter the resistance of $45K, which hasn’t been broken for a long time.

Source: TradingView

The MACD indicator shows that the MACD line has broken above the signal line, which means that this month might be quite bullish for Bitcoin.

The RSI has shot up into the bullish region, which means that the chances of trend reversal are high if BTC breaks above $45K. 

The price action has risen into the upper end of the Bollinger Bands, which means that higher prices are possible in the near future. 

Conclusion

Bitcoin price analysis for March 1, 2022, can be confirmed on a bullish note as BTC once again aims to break the $45K major resistance.