BTCUSD Analysis: Bitcoin sell-off may be a break

Fundamental Analysis of BTCUSDBTCUSD Key Takeaways

• Fed rate cut expectations: The US PPI monthly rate in February was 0%, lower than the expected 0.3%, the smallest increase since July 2024. US short-term interest rate futures still show that the Fed will cut interest rates in June after the release of US initial claims and PPI data.
• Binance News: Binance Zhao Changpeng denies reports of negotiating a pardon deal with the Trump family. According to media reports, Zhao Changpeng, the founder of Binance, has been urging the Trump administration to pardon him. He was previously sentenced to four months in prison after pleading guilty to a related charge. Last year, Binance contacted Trump’s allies and proposed a business deal with the Trump family as part of a plan to return the exiled company to the United States, after which the two sides began negotiations.

Technical Analysis of BTCUSD Daily and Hourly ChartsBTCUSD Daily Chart Insights

(BTCUSD Daily Price Chart, Source: Ultima Markets MT4)

• Stochastic oscillator:The indicator fluctuates and consolidates above the oversold area. It is difficult to clearly determine the trend direction of the short-term market price. The short-term trend will still be dominated by the oscillation trend.
• Key price: On February 28, Huiwen shared with everyone that the short-selling force obviously prevailed after the Bitcoin price broke through the meridian. Although it rebounded above the neckline, it is still in a downward trend. After breaking through the green 200-day moving average, the black fair value gap below is the key. If it continues to break down, the target price will still be $70,000.

BTCUSD H1 Chart Analysis

(BTCUSD H1 Price Chart, Source: Ultima Markets MT4)

• Stochastic oscillator:During the Asian session, the indicator showed a bullish upward trend, and the exchange rate was also in a rebound trend, suggesting that the short-term intraday trend will be dominated by rebound.
• Downward channel: Based on the judgment of the daily cycle oscillation, there is a probability that the Bitcoin price will rebound and rise in the short term due to support below. Looking up, we see the downward channel line, which is also near the green 200-period moving average.

Pivot Indicator Insights for BTCUSD

(BTCUSD M30 Price Chart, Source: Ultima Markets APP)

• According to Pivot Indicator in Ultima Markets APP, the central price of the day is established at 1.0925,
• Bullish Scenario: Bullish sentiment prevails above 1.0925, first target 1.0945, second target 1.0965;
• Bearish Outlook: In a bearish scenario below 1.0925, first target 1.0870, second target 1.0845.

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