Bitcoin Price Prediction: BTC/USD Turns Bearish Below $42,000 Support ByAzeez MustaphaPRO INVESTOR Updated: 12 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. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin Price Prediction – February 11 The Bitcoin price prediction extends the bearish movement to the areas marginally below $42,000 after numerous trials to sustain gains above $43,000. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $47,000, $49,000, $51,000 Support Levels: $38,000, $36,000, $34,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD falls toward $41,500 today as the largest cryptocurrency embarked on a support smashing exercise after failing to hold above $43,000 following a significant breakout in the last few days. Therefore, the bearish control is seen across the market with other major digital assets posting similar losses as they trade towards the 9-day and 21-day moving average. Bitcoin Price Prediction: Bitcoin (BTC) May Increase the Bearish Movement The Bitcoin price is hovering at $42.193 with an intraday loss of 0.46%. According to the daily chart, the current trend is bearish with expanding volatility, and the king coin is likely to consolidate in a bearish flag pattern. Meanwhile, a breakdown below the 21-day moving average may continue in the direction of the previous trend. In this case, BTC/USD is expected to drop and stay below to hit the critical support levels at $38,000, $36,000, and $34,000. However, should Bitcoin price returns above the upper boundary of the channel; the price could rise to $45,000 vital resistance. A further bullish drive could push the price to $47,000, $49,000, and $51,000 resistance levels. The technical indicator Relative Strength Index (14) is revealing a continuous bearish, which shows that the market may follow the downside. BTC/USD Medium – Term Trend: Ranging (4H Chart) At the opening of the market today, the Bitcoin price remains below the 9-day and 21-day moving averages to continue the downward movement, bringing its price to trade around $42,002. Meanwhile, should the price continue to drop further and move below the lower boundary of the channel, it could reach the support level at $40,000 and below. BTCUSD – 4 Hour Chart Moreover, if the bulls push the coin above the 9-day and 21-day moving averages, the Bitcoin price could hit the resistance level of $44,000 and above. Now, the market may begin to move sideways or experience more downtrends as the Relative Strength Index (14) indicator moves below 40-level. 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