BTC/USD Ready to Touch $40,000 Level

Bitcoin Price Prediction


Bitcoin Price Prediction – February 25

The Bitcoin price prediction bounces off the support at $38,016 and added more than $1000 to its current value.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $45,000, $47,000, $49,000

Support Levels: $34,000, $32,000, $30,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD is currently trading around $39,178 with a 2.17% gain in the past 24-hour. According to the daily chart, the Bitcoin price is struggling to stay above the important level of $39,000 as it crosses above the 9-day moving average. However, for BTC/USD to remain above this level for the next positive days, the bulls need to make the $37,000 support level to be pretty strong.

Bitcoin Price Prediction: Could Bitcoin (BTC) Break Higher?

Since yesterday, the Bitcoin price has been maintaining little upward movement, and if the first digital asset breaks above the 21-day moving average, it could make the coin to cross above the upper boundary of the channel. Moreover, Bitcoin (BTC) needs to reclaim the important resistance level of $42,000 to head upwards.

Looking at the Relative Strength Index (14), traders may conclude that BTC/USD is done with the downside. Meanwhile, on the upside, recovery may not come easy and traders must be aware that support will have to be sort above $38,000 while other important zones to keep in mind are around $45,000, $47,000, and $49,000 resistance levels while the supports could be located at $34,000, $32,000, and $30,000 respectively.

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BTC/USD Medium – Term Trend: Bearish (4H Chart)

From a technical point of view, on the 4-hour chart, the technical indicator Relative Strength Index (14) keeps moving upward and ready to cross above 60-level. Meanwhile, for this to come to play there is a little bit of bullish divergence on the technical indicator as the signal line faces the north.

BTCUSD – 4 Hour Chart

However, if the Bitcoin price breaks above the upper boundary of the channel, the market price may likely reach the resistance at $42,000 and above. On the contrary, if the current market value drops below the 9-day and 21-day moving averages, it may likely touch the support at $36,500 and below.

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