Bitcoin Price Prediction: BTC/USD Slides Below $39,000 ByAzeez MustaphaPRO INVESTOR Updated: 27 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 27 The Bitcoin price prediction shows that BTC is falling below the moving averages as it trades around the $38,248 level. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $44,000, $46,000, $48,000 Support Levels: $34,000, $32,000, $30,000 BTCUSD – Daily Chart Buy Bitcoin Now The daily chart reveals that BTC/USD begins to move downward within the descending channel with the current consolidation pattern. However, the coin fails to close above the $39,875 level as it may likely see a sharp drop towards the lower boundary of the channel. Meanwhile, the first support level may be located at $35,000. Beneath this, other supports lie at $34,000, $32,000, and $30,000. Bitcoin Price Prediction: Would Bitcoin (BTC) Break Above $40k? As the daily chart reveals, the Bitcoin price could not break above the resistance level at $39,875, the coin may set up another few days of negative price declines beneath $38,000. A break above the previous level would have set Bitcoin up to retest the $40,000 level, but the technical indicator Relative Strength Index (14) may cross below 40-level to add more bearish movements. At the time of writing, traders can see that the Bitcoin price breaks below the 9-day moving average to gain more downtrends. More so, the Bitcoin price touches $39,875 but now dropping beneath the support level of $38,500. However, it does look that bears may end up closing below this support, but any movement towards the upside may hit resistance levels of $44,000, $46,000, and $48,000. BTC/USD Medium-Term Trend: Bearish (4H Chart) The 4-hour chart shows that the Bitcoin bears are now stepping back into the market pushing the BTC price below its previous support level that existed around $37,800. Although the Bitcoin price has not yet slipped below $37,500, it’s still in the loop of making a bounce back. BTCUSD – Daily Chart Now, BTC/USD is currently moving below the 9-day and 21-day moving averages. The upward movement may likely push the price nearest resistance at $40,000 and above while the immediate support lies at $35,500 and below. The technical indicator Relative Strength Index (14) is moving above 40-level, which indicates that the market may move sideways. 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