Bitcoin Price Prediction: BTC/USD Climbs Above $38,000 Resistance ByAzeez MustaphaPRO INVESTOR Updated: 23 February 2022 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin Price Prediction – February 23 The Bitcoin price prediction touches the $39,000 resistance level as it is now rising, but it must stay above this level for a steady increase. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $45,000, $47,000, $49,000 Support Levels: $33,000, $31,000, $29,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD is currently recovering from the $37,555 support zone as the Bitcoin price needs to cross above the 9-day and 21-day moving averages to keep the uptrend intact. The daily chart reveals that the king coin is yet to get close to the 9-day MA, and this could mean that the Bitcoin price may drop to retest the $37,000 support. Bitcoin Price Prediction: Would Bitcoin Price Continue to Move Higher? According to the daily chart, the Bitcoin price keeps moving closer to the upside as the coin begins a new bullish movement with a new note. In the meantime, traders could see that the Bitcoin price has continued to converge above the key level of $38,500. The Relative Strength Index (14) moves toward 50-level in an attempt to probably cross back to the north. That signals that the return of a bullish uptrend may come to play. However, the first major resistance is near the $40,000 level, therefore, a clear break above the $42,000 level could set the pace for a larger increase to $45,000, $47,000, and $49,000 resistance levels. On the contrary, if the Bitcoin price fails to clear the $38,000 resistance, it could start a new decline as the initial support on the downside is near the $36,000 level. If there is a downside break below the $35,000 support and $34,000, the price could see a sharp decline towards the support levels of $33,000, $31,000, and $29,000 respectively. BTC/USD Medium – Term Trend: Bearish (4H Chart) The 4-hour chart for BTC shows that the coin is following a sideways movement as the coin crosses above the 9-day and 21-day moving averages. Any further bullish movement could hit the key resistance level at $42,000 and above. BTCUSD – 4 Hour Chart However, considering the recent sharp rebound, the Bitcoin price may move back above the $38,000 resistance. A climb above the mentioned resistance may further push the BTC price to the resistance level of $42,000 and above. As it appeared now, it seems the bulls would return to the market as the Relative Strength Index (14) moves above 50-level, suggesting bullish movement. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! Buy Bitcoin Now 68% of retail investor accounts lose money when trading CFDs with this provider Read more: How to buy Bitcoin How to buy Cryptocurrency Join Our Telegram channel to stay up to date on breaking news coverage