Buying Bitcoin on correction before next leg up

Following yesterday’s attempt to breach $70,000, the BTCUSD pair retreated to $69,000 on Tuesday morning, March 3, 2026. The Middle East situation is now reaching a boiling point, with volatility running high due to soaring energy prices and shifting risk perceptions.

Unlike traditional stock markets, which appear lost and shaky, Bitcoin managed to quickly find its footing, becoming an attractive safe haven. In search of better alternatives, traders started to rotate capital out of overheated protective assets.

Strong fundamentals also favor the crypto. Major corporations keep expanding their reserves, with weekly inflows into BTC ETFs exceeding $880 million and breaking the curse of a prolonged negative streak. Recent surveys indicate that institutional investors are currently more focused on identifying advantageous entry points than on exiting positions.

Macroeconomic conditions, however, present a mixed picture. On the one hand, Brent crude has recently consolidated above $78 per barrel, reigniting inflation concerns and diminishing the probability of imminent monetary easing by the US Federal Reserve (Fed). On the flip side, big market fishes view current levels as profitable investments in the long run—particularly as short-term traders reduce their exposure.

Turning to the technical setup, the hourly BTCUSD chart points to a corrective pullback after yesterday’s surge within the flat channel. Yet, bulls remain very much in the game. The price continues to sit above the middle Bollinger Band ($67,362), signaling that buyers still hold the reins and aren’t ready to loosen them anytime soon. Narrowing bands suggest declining volatility and the accumulation of momentum for another upward move. The Chaikin Oscillator confirms this outlook, flying in positive territory and climbing higher on steady capital inflows.

Consider the trading plan suggested below:

Buy BTCUSD at the current price near $67,950. Place Take profit 1 at $70,500 and Take profit 2 at $74,000. Set Stop loss at $65,000.

The forecast is valid from March 3 till March 10, 2026.