Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD May be Limited below $40,000 Level

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Bitcoin Price Prediction
Bitcoin Price Prediction

Join Our Telegram channel to stay up to date on breaking news coverage

Bitcoin Price Prediction – February 19

The Bitcoin price prediction could stop short of $39,500 as this level may be guarded by strong technical barriers.

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

Key levels:

Resistance Levels: $45,000, $47,000, $49,000

Support Levels: $35,500, $33,500, $31,500

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD surges and moves close to the resistance level of $40,333 but fails to break both the 9-day and 21-day moving averages. The first digital asset is currently gaining about 0.74% since the past few hours and could stay unchanged before the end of today’s trading. Meanwhile, BTC/USD is changing hands at $40,279.21. The coin remains in the hands of the bulls but needs to rise above $40,000 to escape the danger zone. Therefore, if the bulls could successfully push the price above the moving averages, the next resistance levels may be found at $45,000, $47,000, and $49,000.

Bitcoin Price Prediction: What Could Be the Next Direction for BTC?

At the time of writing, the Bitcoin price’s recent stability above $40,000 is likely to be a key ingredient to the surge that could occur in the next positive move. However, the bulls may be put on a test with BTC/USD moving back to the resistance level of $42,000 which happened to be the next focus for the coin.

On the downside, the critical support is created at a psychological $38,000. Meanwhile, the price could move towards the lower boundary of the channel and once this is done, the sell-off is likely to gain traction with the next focus on $37,000 and $36,000. However, any further low drive could send the price to the supports at $35,500, $33,500, and $31,500.

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

According to the 4-hour chart, the Bitcoin price is moving sideways below the 9-day and 21-days moving averages to reach where it currently trades at $39,998.64. However, the closest support level lies at $38, 000 and below, while crossing above the 9-day moving average could hit the nearest resistance level at $42,000 and above.

BTCUSD – 4 Hour Chart

Moreover, as the coin slides to the downside, the technical indicator is likely to cross into the oversold region, flashing sell signals, which indicates a bearish movement.

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

68% of retail investor accounts lose money when trading CFDs with this provider

Read more:

Join Our Telegram channel to stay up to date on breaking news coverage

Read next