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03.03.202111:08 Forex Analysis & Reviews: Bitcoin forecast for March 3, 2021 – BUY. Result for February is +10.93%

Esta información se proporciona a clientes minoristas y profesionales como parte de comunicación de marketing. No contiene y no debe interpretarse como asesoramiento o recomendación de inversión o una oferta o solicitud para participar en cualquier transacción o estrategia en instrumentos financieros. El desempeño pasado no garantiza o predice el desempeño futuro. Instant Trading EU Ltd. no asume ninguna representación ni responsabilidad sobre la precisión o integridad de la información proporcionada, o cualquier pérdida que surja de cualquier inversión basada en el análisis, pronóstico u otra información proporcionada por un empleado de la Compañía o de otra manera. El descargo de responsabilidad completo está disponible aquí.

Exchange Rates 03.03.2021 analysis

1. Analysis of bitcoin futures volumes from the Chicago Mercantile Exchange (CME).

2. Analysis of the long-term trend.

3. Analysis of the medium-term trend.

4. Analysis of the short-term trend.

5. Japanese candlestick analysis.

6. Conclusions.

7. Statistics.

1. Analysis of bitcoin futures volumes from the Chicago Mercantile Exchange (CME).

The analysis uses data on horizontal volumes from the Chicago Mercantile Exchange on daily charts. The analysis is based on the footprint-profile theory, in which the movement of the maximum volume level for the day can indicate the likely direction of the trend. The maximum volume level is the level at which the maximum number of transactions was made, that is, the level of a large player. Accordingly, the displacement of the maximum amount of levels up indicates an upward trend. Moving the maximum volume level down indicates a downward trend. The chaotic movement of the maximum volume levels indicates a flat in the market.

01.03.21 – Maximum horizontal volume level (POC - Point Of Control) - 48980

02.03.21 – Maximum horizontal volume level (POC - Point Of Control) - 48045

The price of control has moved down. The price is above the POC level. Perhaps an upward movement has begun, so you can buy.

2. Analysis of the long-term trend.

A trend is a trader's friend. Many traders know this saying, but do not know how to use it. The answer is simple: trade only in the direction of the trend. This way your trades will have more profit potential with less risk. According to the classical Dow theory, there are three main trends:

  • long-term;
  • medium-term;
  • short-term.

These three are the trends that need to be analyzed before opening any transaction. In this analysis, we will do this.

The long-term trend in this analysis is the daily trend. Trades will be made on a daily time frame, and will be held for several days. The daily trend is analyzed using the 48-period exponential moving average (EMA (48)). If the daily candle closes above the EMA (48), it means that we are facing an upward trend and we should buy. If the daily candle closes below the EMA (48), it means that the trend is downward and we should sell.

Exchange Rates 03.03.2021 analysis

The chart shows an upward trend. The price is higher than the EMA (48), so in this situation it is worth considering purchases.

3. Analysis of the medium-term trend.

In this analysis, the medium-term trend will be the trend on the 4-hour chart (H4). The EMA(48), the 48-period exponential moving average, will also be used for the analysis. If the H4 candle closed above the EMA (48), it means that the trend is upward and you should buy. If the H4 candle closed below the EMA(48), it means that the trend is downward and you should sell.

Exchange Rates 03.03.2021 analysis

The price is higher than the EMA (48). The medium-term trend is upward, so you can buy.

4. Analysis of the short-term trend.

The short-term trend, which can well show the entry point to the market, will be considered a trend on the H1 timeframe. The 48-period exponential moving average will help us. If the H1 candle closed above the EMA (48), it means that the trend is upward and you should buy. If the H1 candle closed below the EMA (48), it means that the trend is downward and you should sell.

Exchange Rates 03.03.2021 analysis

The price is higher than the EMA (48). The short-term trend is upward, so you can buy. Long-term, medium-term, and short-term trends are the same.

5. Japanese candlestick analysis.

The classic Japanese candlestick analysis is used for the daily timeframe. In this analysis, we will also analyze the daily candle.

Exchange Rates 03.03.2021 analysis

The daily candlestick is closed downward. The candlestick is black. The maximum is higher than the maximum of the previous candle. The candlestick configuration is a downward pointing Hammer. The maximum of yesterday's candlestick has already been broken. An upward movement is likely.

6. Conclusions.

  • Volume analysis - BUY.
  • The long-term trend - BUY.
  • The medium-term trend - BUY.
  • The short-term trend - BUY.
  • Japanese candlestick analysis - BUY.

General conclusion: On March 3, 2021, you can buy.

7. Statistics.

To analyze the effectiveness of this approach, statistics are kept on the transactions made. Forecasts are made and transactions are made on four instruments: Bitcoin, Ethereum, Litecoin, and BCH/USD. Trading account monitoring:

Exchange Rates 03.03.2021 analysis

The result for February 2021 was +10.93%.

Statement:

Exchange Rates 03.03.2021 analysis

This transaction is open:

02.03.21 Bitcoin BUY: 49249.81 SL: 44455; Risk per transaction: 1% of the deposit. With a deposit of $10,000, the lot is 0.02.

For new trades, the Stop Loss is located behind the daily extreme points. We do not set a Take Profit, as we will accompany the transaction by moving theStop Loss beyond the extreme points in the future sessions

Since trading is conducted on daily charts, this recommendation is relevant throughout the day.

Trade with the trend, and you will gain profit!

Desarrollado por un Maxim Petrov
experto de análisis de InstaForex
© 2007-2024

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