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Bitcoin Price Prediction for March 02, 2025: Can BTC Maintain Its Momentum Above $85,000?

Jonathan Carls by Jonathan Carls
March 1, 2025
in Binance Feed, Market
Reading Time: 3 mins read
Bitcoin Price Prediction for March 02, 2025 Can BTC Maintain Its Momentum Above $85,000
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  • Bitcoin’s bullish surge faces resistance at $86K amid declining trading volume.
  • RSI at 28.72 signals oversold BTC, hinting at a potential price rebound.
  • Derivatives volume drops 35.03%, but open interest rise shows market stability.

Bitcoin continues to show strong bullish momentum as it trades at $85,329.12, marking a 6.24% increase in the last 24 hours. The price recently surged past $80,000, reaching a peak close to $86,000 before stabilizing. 

This rally reflects growing market confidence, but the decline in trading volume suggests a possible slowdown. While BTC remains in an uptrend, traders should monitor key technical levels to assess potential price movements in the coming days.

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Key Support and Resistance Levels Indicating Market Strength

Bitcoin’s recent breakout above $80,000 established strong support zones, reinforcing investor confidence. The $80,000 level serves as critical support, with potential buy orders accumulating in case of a retracement. 

Additionally, the $82,000 to $83,000 range saw consolidation before the latest surge, making it an important intermediate support zone. Short-term support is forming near $85,000, as BTC fluctuates around this price level.

Source: CoinMarketCap

On the upside, BTC faces resistance at $86,000, the recent peak. A breakout beyond this could push the price towards $88,000 to $90,000, where sellers may become active. If bullish sentiment continues, BTC could target the psychological resistance at $100,000. However, the declining trading volume suggests the market might consolidate before another significant move.

Technical Indicators Highlight Market Conditions

BTC/USD daily price chart, Source: TradingView

The Relative Strength Index (RSI) currently stands at 28.72, indicating oversold conditions. This suggests a potential bounce if buying pressure increases. A move past 37.95 on the RSI could confirm renewed bullish momentum. 

Meanwhile, the Moving Average Convergence Divergence (MACD) line remains below the signal line, confirming short-term bearish momentum. However, the weakening negative histogram suggests selling pressure may be decreasing.

Derivatives Market Activity Suggests Mixed Sentiment

As per Coinglass data, Bitcoin’s derivatives market shows a sharp 35.03% decline in trading volume, now at $104.20 billion. This signals reduced market participation. 

However, open interest increased by 2.74% to $51.01 billion, indicating that traders are maintaining their positions despite lower activity. Additionally, options trading volume dropped 20.04% to $4.17 billion, while options open interest saw a minor 0.95% decline to $27.59 billion. 

Tags: Bitcoin (BTC) NewsPrice Analysis

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