BTC/USD Yet to Break Above $43,000 Level

BTC/USD Yet to Break Above $43,000 Level


Bitcoin Price Prediction – February 14

The Bitcoin price rebounds from the daily low of $41,570 as the buying interest may increase the bullish movement towards $45,000.

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

Key levels:

Resistance Levels: $49,000, $51,000, $53,000

Support Levels: $38,000, $36,000, $34,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD may continue to be range-bound in the market price stays within the 9-day and 21-day moving averages.  However, as the market establishes a cross above the 9-day moving average, the buyers may begin to look for additional resistance levels above the upper boundary of the channel.

Bitcoin Price Prediction: BTC Price May Reclaim $45,000 Resistance

According to the daily chart, after the Bitcoin price begins the daily trade at $42,073, the king coin is now facing the resistance level of $43,000 and looking forward to crossing above the channel. However, the daily chart reveals that in as much as the 9-day moving average remains above the 21-day moving average, this confirms the next direction that the coin will follow. Moreover, BTC/USD may decline if the price breaks below the 21-day moving average. The Bitcoin price could rise if the $43,000 resistance is reached.

At the time of writing, the technical indicator Relative Strength Index (14) may likely cross above 55-level to indicate a bullish movement. Meanwhile, if the king coin crosses the above channel, it could reach the resistance levels of $49,000, $51,000, and $53,000 but any movement towards the lower boundary of the channel could hit the supports at $38,000, $36,000, and $34,000.

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BTC/USD Medium-Term Trend: Ranging (4H Chart)

According to the 4-hour chart, the Bitcoin price is falling below the 9-day and 21-day moving averages as the technical indicator Relative Strength Index (14) moves below 50-level. However, if the Bitcoin price moves toward the upper boundary of the channel, the bullish influence could spike and the acquired more gains.

BTCUSD – 4 Hour Chart

However, should in case the current candle failed to regain above the moving averages, the Bitcoin price may slide towards the support level of $40,000 and below. Furthermore, the bulls may need to keep the coin above the resistance level of $43,000 to break the potential resistance at $44,000 and above.

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