Bitcoin (BTC) Price Prediction for March 2

The prices of coins keep rising, however, there are some exceptions, according to CoinMarketCap.

BTC/USD

The rate of Bitcoin (BTC) has declined by 1.02% over the last 24 hours.

On the hourly chart, the price of BTC is trading near the local support level of $61,711. If the daily bar closes near it, one can expect a correction to the $61,000 zone tomorrow.

On the bigger time frame, the situation is less clear as neither bulls nor bears have seized the initiative for a further move yet.

In this case, sideways trading in the area of $61,000-$63,000 is the more likely scenario for next week.

From the midterm point of view, the price of BTC is on the way to test the nearest resistance level of $67,150. If the bar closes above it and with no long wicks, there is a high chance to see a new all-time high.

Bitcoin is trading at $61,864 at press time.

Source