BTC ANALYSIS on 03/03/2025
- The price is currently near the 61.8% Fibonacci level (~92,000 USD) and above the short-term EMAs, but below the long-term EMA (EMA 200: 94,184.22).
- RSI 68.88 (slightly overbought), MACD crossing down signal (bearish), and Bollinger Bands are narrowing, indicating upcoming volatility (breakout or pullback).
- Recent trading volume is low, suggesting that the recovery momentum may be weakening.
Based on the signals, Short (breakout) is the most feasible option at this time, because:
Entry point: (current price) or wait for the price to break down below 90,000 USD with confirmation: Strong bearish candle (Bearish Engulfing) on H4/ RSI breaking below 50/ MACD continuing to cross down
- TP1: 87,000 USD
- TP2: 84,000 USD
Stop Loss: 97,018.40 USD
Confirmation
- Wait for 1–2 more H4 candles to confirm the breakout
