02.03.202617:33 Forex Analysis & Reviews: Trading Signals for Bitcoin (BTC/USD) on March 2-4, 2026: buy above $66,250 (21 SMA - 3/8 Murray)

Relevance up to 11:00 2026-03-16 UTC--4

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Bitcoin is trading around $65,440, showing signs of exhaustion in the bearish momentum. BTC will likely consolidate above $66,246 (21 SMA) in the coming hours. If so, we could expect a recovery during which the price could reach the top of the downtrend channel around $69,000.

If Bitcoin settles below $66,250, it could remain under bearish pressure, and we expect it to reach the 2/8 Murray around $62,500 in the coming days. BTC could even reach the lower band of the uptrend channel around $61,000.

Bitcoin is expected to continue consolidating over the next few weeks above $60,000 and below $75,000, as geopolitical tensions are causing investors to take refuge in gold. Risk aversion could keep risk assets such as Bitcoin under downward pressure.

We expect to look for opportunities to buy Bitcoin when it reaches the 2/8 Murray support levels or the psychological level of $60,000. This could allow us to open long positions with targets at $70,000 and $75,000.

On the other hand, a consolidation above $66,500 (21 SMA) could also be seen as a signal to buy Bitcoin, as it could break and confirm the bullish pennant pattern that is forming on the H4 chart.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.