Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD May Retreat Below $43,000 Support

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 16

The Bitcoin price prediction shows that BTC keeps trading below the channel as the coin retreats from the $44,195 level.

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

Key levels:

Resistance Levels: $48,500, $50,500 $52,500

Support Levels: $39,500, $37,500, $36,500

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD is facing a setback as this may not be a permanent one, and the king coin is likely to have a bearish run in the short term, but a price rally may help the king coin to head to the south if the red line of the 9-day moving average crosses below the green line of the 21-day moving average. Currently, Bitcoin (BTC) is trading around the $43,581 level after touching the daily high at $44,195 during the European session.

Bitcoin Price Prediction: Would Bitcoin (BTC) Cross Below the 9-Day Moving Average?

Looking at the daily chart, the Bitcoin price is likely to cross below the 9-day moving average. However, if the price should slump below the support level of $43,000, the king coin is likely to face a downward trend. Therefore, the further bearish movement could locate the supports at $39,500, $37,500, and $35,500, making room for BTC to fall even further.

In the meantime, the technical indicator Relative Strength Index (14) is likely to cross below 58-level as the trading volume could be in support of the bears. Moreover, if the bulls decide to move the price above the upper boundary of the channel, BTC/USD may locate the resistance levels at $48,500, $50,500, and $52,500 respectively.

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

On the 4-Hour chart, the Bitcoin price stays below the 9-day moving average, and the immediate support is likely to come at the $43,500 level. The price may likely fall below this level if the bears fully stepped back into the market.

BTCUSD – 4 Hour Chart

However, a further bearish movement could test the critical support at the $42,000 level and below while the resistance could be located above the 9-day moving average at the resistance level of $45,500 and above. Technically, the Bitcoin price is currently moving into the negative side as the technical indicator Relative Strength Index (14) is likely to cross below 50-level.
(function() { var d=document,w=window;var cS=d.currentScript || (function (){var s = d.getElementsByTagName(‘script’);return s[s.length – 1];})(),i = (function() {var s = cS.previousElementSibling;while (s) {if (s.matches(‘iframe’)) return s;s = s.previousElementSibling;}})(),iW = i.contentWindow,u = parseInt(d.body.getAttribute(‘_iL’) || 0) + 1; i.setAttribute(‘u’, u); i.onload = function() {iW.postMessage({u:u},’*’);}; if (!d.body.getAttribute(‘_iL’)) { w.addEventListener(‘message’, function (e) { if (e.data.hasOwnProperty(“u”)) { var it = d.querySelector(‘iframe[u=”‘+e.data.u+'”]’); if (it) { if (e.data.hasOwnProperty(“h”)) { it.style.height = e.data.h + ‘px’; } else if (e.data.hasOwnProperty(“w”)) { it.style.width = e.data.w + ‘px’; } } } }); } d.body.setAttribute(‘_il’, u); })();

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

Read next