Bitcoin (BTC) Worth Prediction – February 20
Bitcoin (BTC) is at the moment transferring above the $57,000 degree for the primary time within the historical past of the coin.
BTC/USD Lengthy-term Pattern: Bullish (Each day Chart)
Resistance Ranges: $63,000, $65,000, $67,000
Help Ranges: $51,000, $49,000, $47,000
BTC/USD is at the moment buying and selling above $57,000 because the coin touches a peak of $57,105 right this moment. Nevertheless, the Bitcoin value appears to be within the temper of displaying a powerful value improve because the coin is buying and selling nicely above the 9-day and 21-day transferring averages with the positive aspects of two%.
The place is the Bitcoin Worth Going Subsequent?
Now, it’s essential to keep in mind that Bitcoin is rising bullishly this yr and appears excellent within the medium to long run. Nevertheless, we are able to solely discover one other bull run if the Bitcoin value manages to interrupt the essential resistances. The factor with BTC/USD value is that it has been in a position to break crucial resistance degree of $50,000 as this has given the chance to succeed in larger resistance ranges.
Nevertheless, because the technical indicator RSI (14) strikes throughout the overbought area, the Bitcoin value might have to crack the $60,000 mark and want to remain above this resistance degree persistently in order that it might probably contact the golden resistance ranges at $63,000, $65,000, and $67,000. Due to this fact, any bearish motion beneath the 9-day transferring common might seemingly carry again the Bitcoin value to the helps at $51,000, 49,000, and $47,000 respectively.
BTC/USD Medium – Time period Pattern: Bullish (4H Chart)
On the 4-hour chart, a retest of $55,000 gives the look that the bulls should not but finished. The Bitcoin value rises to fill a major hole because the bulls remained in management which can take the coin in direction of the $60,000. In a short while, BTC/USD might hit $58,000 if the bullish strain continues. In any other case, the worth might revisit the helps of $54,000 and beneath.
On the upside, a bullish transfer might proceed to satisfy resistance at round $59,000 and above. As of now, the 4-hour RSI (14) is transferring throughout the overbought area, this might imply that the king coin is searching for one other shut resistance.