Bitcoin Price Prediction: BTC/USD Nosedives Below $40,000 ByAzeez MustaphaPRO INVESTOR Updated: 26 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 26 Today, the Bitcoin price prediction loses traction after hitting $40,300; losses likely to continue in the near term. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $44,000, $46,000, $48,000 Support Levels: $35,000, $33,000, $31,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD is retreating to cross below the 9-day moving average as the coin posts minor losses of 0.15% on the day after commencing the trading at $39,242. However, the market movement has an intraday high of $40,300; although the world’s largest crypto touches the support level of $38,592 before going back to where it is currently trading at $39,178. Bitcoin Price Prediction: The Bitcoin Price May Plunge More The Bitcoin price just plunged below $40,000 once again, marking $38,592 as the current daily low at the moment. Bitcoin (BTC) could be searching for a new low by crossing below the 9-day moving average. Looking at the declining daily volume candle, together with the steady but stable recent Bitcoin price action, it can be assumed that a stronger move may be coming up soon into the market. At the time of writing, BTC/USD is struggling to maintain the $39,000 level, and if the coin follows the downward trend as the Relative Strength Index (14) remains below the 50-level, the next supports may likely come at $35,000, $33,000, and $31,000. On the contrary, if the coin crosses above the 21-day moving average, the further movement could go above the upper boundary of the ascending channel to hit the resistance levels of $44,000, $46,000, and $48,000 which could be well above the channel. BTC/USD Medium-Term Trend: Ranging (4H Chart) On the 4-Hour chart, BTC price hovers around the upper boundary of the channel at $39,301 which may take time to persistently trade above $40,000. However, should the bulls gather enough strength and stay above the 9-day and 21-day moving averages, the upward movement may come at the resistance level of $41,500 and above. BTCUSD – 4 Hour Chart However, on the downside, immediate support is below the moving averages while the main support is at the $38,000 level. The price may likely fall to the support level of $37,000 and below. Technically, the Bitcoin price is still moving sideways while the Relative Strength Index (14) moves below 60-level, indicating an indecisive market 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