The trading week on the BTC market on 28 February closed not very positively for buyers. Initially, the active BTC price growth to the range inspired investors to form a new strong medium-term growth wave. However, buyers failed to pass the $46,000 mark. We wrote about this range in our previous analysis. In the case of breaking and fixing above the mark of $46,000, the BTC price continued to grow to the range of $56,000. But, closing the weekly candle from 28 February with a big pin down, sellers proved that it is too early to talk about changing the trend. https://www.tradingview.com/x/vO4ozFhQ/ Though, currently, the critical point for buyers is the $36,000 mark. If buyers can stop the BTC price fall at this level – we can count on a new attack on the $46,000 mark. If we consider the situation on the monthly timeframe of the BTC price movement, we can see that in February, buyers were not very active. https://www.tradingview.com/x/NAlcs1RE/ The monthly candle for February did not swallow the January one. And the trading volumes are average. In the first week of March, sellers were able to lower the BTC price below the opening price of the February monthly candle. If buyers do not show resistance in the range of $36,000, the BTC price can quickly fall to $30,000. Sellers are expected to update local lows from June 2021. It is during the update of these local lows and it will be clear whether there will be a bright future in ...
