HomeBitcoin NewsBitcoin Value Prediction: BTC/USD Nosedives Beneath $40,000

Bitcoin Value Prediction: BTC/USD Nosedives Beneath $40,000


Bitcoin Value Prediction – February 26

As we speak, the Bitcoin value prediction loses traction after hitting $40,300; losses more likely to proceed within the close to time period.

BTC/USD Lengthy-term Pattern: Bearish (Each day Chart)

Key ranges:

Resistance Ranges: $44,000, $46,000, $48,000

Help Ranges: $35,000, $33,000, $31,000

BTCUSD – Each day Chart

BTC/USD is retreating to cross beneath the 9-day transferring common because the coin posts minor losses of 0.15% on the day after commencing the buying and selling at $39,242. Nonetheless, the market motion has an intraday excessive of $40,300; though the world’s largest crypto touches the help degree of $38,592 earlier than going again to the place it’s at present buying and selling at $39,178.

Bitcoin Value Prediction: The Bitcoin Value Might Plunge Extra

The Bitcoin value simply plunged beneath $40,000 as soon as once more, marking $38,592 as the present every day low in the meanwhile. Bitcoin (BTC) may very well be looking for a brand new low by crossing beneath the 9-day transferring common. Trying on the declining every day quantity candle, along with the regular however steady current Bitcoin value motion, it may be assumed {that a} stronger transfer could also be developing quickly into the market.

On the time of writing, BTC/USD is struggling to keep up the $39,000 degree, and if the coin follows the downward pattern because the Relative Power Index (14) stays beneath the 50-level, the following helps could seemingly come at $35,000, $33,000, and $31,000. Quite the opposite, if the coin crosses above the 21-day transferring common, the additional motion might go above the higher boundary of the ascending channel to hit the resistance ranges of $44,000, $46,000, and $48,000 which may very well be nicely above the channel.

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BTC/USD Medium-Time period Pattern: Ranging (4H Chart)

On the 4-Hour chart, BTC value hovers across the higher boundary of the channel at $39,301 which can take time to persistently commerce above $40,000. Nonetheless, ought to the bulls collect sufficient energy and keep above the 9-day and 21-day transferring averages, the upward motion could come on the resistance degree of $41,500 and above.

Btcusd 4H 26022022
BTCUSD – 4 Hour Chart

Nonetheless, on the draw back, quick help is beneath the transferring averages whereas the primary help is on the $38,000 degree. The worth could seemingly fall to the help degree of $37,000 and beneath. Technically, the Bitcoin value remains to be transferring sideways whereas the Relative Power Index (14) strikes beneath 60-level, indicating an indecisive market motion.

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