Bitcoin Price Prediction: BTC/USD Sets New High as All Eyes Are on $50,000 Resistance ByAzeez MustaphaPRO INVESTOR Updated: 11 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 11 The Bitcoin price set fresh all-time highs today, with bulls taking full control of the market as they set their sights on $50,000. BTC/USD Long-term Trend: Bullish (Daily Chart) Key levels: Resistance Levels: $53,000, $55,000, $57,400 Support Levels: $40,000, $38,000, $36,000 BTCUSD – Daily Chart BTC/USD have been caught within a strong uptrend throughout the past few days and weeks, with sellers unable to gain any profound control over the aggregated market. However, there have been a few intense selloffs, but positive catalysts seem to be lying in wait around every corner to help fuel the uptrend. At the time of writing, BTC/USD is trading up just under 5.46% at its current price of $47,300 after it touches the daily high of $48,690. Where is BTC Price Going Next? The Bitcoin price remains firm above the 9-day and 21-day moving averages as each dip is being aggressively absorbed, which is a positive sign that indicates that bulls are maintaining control over the market. Therefore as long as the market maintains its strength, the first digital asset could be well-positioned to see some massive upside which may cause the coin to hit the potential resistance at $53,000, $55,000, and $57,000. However, rejection at $48,500 could eventually lead to declines to the critical support below the 9-day moving average at $41,000. In case BTC drops more, then the coin can rely on the long-term support levels at $40,000, $38,000, and $36,000. Looking at the daily chart, the technical indicator RSI (14) signal line is now moving within the overbought region, suggesting more bullish signals. BTC/USD Medium-term Trend: Bullish (4H Chart) According to the 4-hour chart, the Bitcoin price touches the daily high at $48,690. However, today’s price move happens to be the most impressive one as it climbs above the long-awaited resistance level of $48,000 with a sharp upsurge. More so, BTC/USD is now maintaining its bull-run above $49,000. BTCUSD – 4 Hour Chart However, as the RSI (14) nosedives below 65-level, BTC may take a downward move. Therefore, the coin may breach below the 9-day and 21-day moving averages and could reach another support at $44,000 and below. Nevertheless, if the bulls find a decent resistance level of around $50,000, the coin may continue bullish movement above the channel at the resistance level of $51,500 and above. Join Our Telegram channel to stay up to date on breaking news coverage