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Bitcoin Outlook for Mar 4:
The daily chart shows Bitcoin attempting to reverse after a sharp correction that pushed the price briefly toward the $60,000–$62,000 region. Recent candles indicate a gradual recovery phase, with BTC preparing to test the $70,000 area, suggesting improving short-term momentum. The Balance of Power indicator near 0.69 also signals that buyers currently hold a slight advantage, supporting the ongoing rebound.
From a technical perspective, immediate support appears around $66,000–$67,000, a zone that held during the recent consolidation phase. A stronger support base sits near $62,000, which marked the lowest point of the recent selloff.
On the upside, resistance is emerging around $72,000, while stronger roadblock aligns with the 50-day EMA near $74,327. A sustained break above that level could shift momentum toward the $80,000 region, where the 200-day EMA around $81,900 represents the next major technical barrier.
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