Bitcoin Price Prediction: BTC/USD Stabilizes Above $40,000; Price Yet to Conquer $41,000 Resistance Level ByAzeez MustaphaPRO INVESTOR Updated: 06 February 2021 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 (BTC) Price Prediction – February 6 Bitcoin bulls are working hard to nurture a bullish trend above the resistance level of $41,000. BTC/USD Long-term Trend: Bullish (Daily Chart) Key levels: Resistance Levels: $45,000, $47,000, $49,000 Support Levels: $34,000, $32,000, $30,000 BTCUSD – Daily Chart BTC/USD is currently trading 5.58% higher on the day after the coin opened the session at $38,327 and now adjusting upwards to the prevailing market value of $40,000. The first digital coin is moving within the short-term bullish trend amid low volatility. The current conditions imply that the price may stay range-bound during the next trading hours as the coin moves above 9-day and 21-day moving averages. What to Expect from Bitcoin (BTC) At the opening of the market today, after testing the low of $38,250, BTC/USD is currently trading at $40,448. Meanwhile, looking at the market movement, there is likely that the market may experience a quick retracement or sell-off just after touching the crucial $41,000, and traders may see $39,000 to $38,000 being tested again before pushing higher. On the downside, if the market decides to fall, the price of Bitcoin could fall below the moving averages at $35,000, and if that support fails to hold the sell-off, traders could see a further decline towards the support levels of $34,000, $32,000, and critically $30,000. All the same, any further bullish movement above the upper boundary of the channel may hit the resistance levels of $45,000, $47,000, and $49,000 as the technical indicator RSI (14) moves to cross into the overbought region. BTC/USD Medium – Term Trend: Bullish (4H Chart) On the 4-hour chart, we expect the coin to gain the lost momentum and hit the trade above $41,000. However, the volatility hovers, and the selling pressure still exists as the coin stays above the moving averages. Meanwhile, the $38,000 and below may come into play if BTC breaks below moving averages. BTCUSD – 4 Hour Chart However, in as much as the buyers can still reinforce and power the market, traders can expect a retest at a $41,000 resistance level, and breaking this level may further allow the bulls to reach $42,500 and above. The RSI (14) is seen trading below the 70-level which shows that the coin may retreat. Join Our Telegram channel to stay up to date on breaking news coverage