Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD Creeps towards $48,500 Following Rejection at $52,107

Bitcoin (BTC) Price Prediction – February 25

The Bitcoin price is trading below $50,000 against USD and the coin is likely to climb steadily with a few downward moves.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $58,000, $60,000, $62,000

Support Levels: $40,000, $38,000, $36,000

BTCUSD – Daily Chart

It is safe to say that BTC/USD has been turbulent in recent days, after tight trading for a few weeks with relatively low volatility. Early today, the Bitcoin price rose sharply by moving above the resistance level of $51,000 against the US dollar. The coin even exceeded the $52,000 level before correcting lower. At the moment, the price is declining and is moving close to the 21-day moving average at $48,500.

Where is BTC Price Going Next?

A crucial uptrend could form above the moving averages, with support close to $48,000 on the daily chart. However, if the decline occurs below the lower boundary of the channel, the price could extend its downward correction to the $46,000 level and any other loss could possibly push the price of Bitcoin to the support level of ​​$44,000.

More so, at the time of writing, the Bitcoin price had dropped to $48,667. A further drop may cause the market to reach the critical supports at $40,000, $38,000, and $36,000. In other words, if the market were to rebound, we could see the next buying pressure towards the resistance levels of $58,000, $60,000, and $62,000. Nevertheless, BTC still maintains a bullish trend on the daily chart, with the RSI (14) moving sideways.

BTC/USD Medium-Term Trend: Ranging (4H Chart)

Looking at the 4-hour chart, the resistance at the $52,000 was too heavy for the bulls to overcome. So the price is seriously struggling in a consolidation mode, which has made BTC remain indecisive over the past few hours now. The resistance levels to watch are 54,000 and above.

BTCUSD – 4 Hour Chart

However, Bitcoin’s price is still roaming around $48,757 and we can see that the bullish supply has been slowly turning heavy in the market, while the bears are trying to drag the price below $48,000 support. Meanwhile, the $45,200 and below may come into play if BTC breaks the mentioned support. The technical indicator RSI (14) is moving to cross below the 40-level, suggesting more bearish signals.

Read next

InsideBitcoins uses cookies to improve and customize your user experience. Learn more

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close