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.

Cloudbet Bonus

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.

Seeking to purchase or commerce Bitcoin (BTC) now? Make investments at eToro!

68% of retail investor accounts lose cash when buying and selling CFDs with this supplier

Learn extra:

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Creators of the Cool Cats NFT Collection Sign With Leading Talent Agency CAA – Bitcoin News

According to a report released on Friday, the creators of the non-fungible token (NFT) collection Cool Cats have signed a deal with the American talent...

Bank of England and regulators assess crypto regulation in raft of new reports

The Bank of England Financial Policy Committee and other U.K. regulators are assessing crypto regulation after publishing reports on financial stability relating to crypto assets...

Quant Explains How Stablecoin Ratio Can Give Bitcoin Buy Or Sell Signals

A quant has explained how the data of the stablecoin supply ratio (SSR) may be used to find Bitcoin buy or sell signals. Stablecoin Supply Ratio...

Bitcoin value rejection at $39K and mounting regulatory considerations tank the market once more

Volatility and uneven value motion continued to dominate the cryptocurrency market on March 7 and information that United States President Joe Biden plans to sign...

Most Popular