{"id":283114,"date":"2021-02-13T05:37:44","date_gmt":"2021-02-13T10:37:44","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=283114"},"modified":"2021-02-13T05:37:44","modified_gmt":"2021-02-13T10:37:44","slug":"btc-usd-long-term-trend-bullish-daily-chart-131","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/btc-usd-long-term-trend-bullish-daily-chart-131","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD May Likely See Further Downside as Price Fails to Break above $48,000"},"content":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 February 13<\/strong><\/p>\n

The Bitcoin (BTC) has been facing slight selling pressure as of late, with the resistance found within the $47,000 level.<\/p>\n

BTC\/USD Long-term Trend: Bullish (Daily Chart)<\/h4>\n

Key levels:<\/p>\n

Resistance Levels: $54,000, $56,000, $58,000<\/p>\n

Support Levels: $42,000, $40,000, $38,000<\/p>\n

\"\"<\/a>
BTCUSD – Daily Chart<\/figcaption><\/figure>\n

BTC\/USD<\/a> has been struggling to maintain its uptrend, with the selling pressure found within the $47,000 region which is stopping it from seeing any major gains since yesterday. Meanwhile, traders are not surprised by the selling pressure as bears are trying to defend against a break above the cryptocurrency\u2019s all-time highs. However, until bulls break above this level, the king coin may likely face a prolonged sideways movement.<\/p>\n

What is the Next Direction for Bitcoin?<\/h4>\n

At the time of writing, BTC\/USD is trading down just under 0.6% at its current price of $47,124. This marks a serious climb from its daily low of $47,120 set at the bottom of the decline. However, the coming few days may likely shine a light on Bitcoin\u2019s outlook, as it is currently trading at a pivotal point. Therefore, any decline or rise from this level could determine its next trend.<\/p>\n

BTC\/USD is currently trading above the 9-day and 21-day moving averages, with bears moving the market price towards the south. Furthermore, any bearish movement below the 9-day moving average may push the price to the support level of $42,000, $40,000, and $38,000 while the resistance levels are located at $54,000, $56,000, and $58,000 as the technical indicator remains within the overbought region.<\/p>\n

BTC\/USD Medium – Term Trend: Ranging (4H Chart)<\/p>\n

Looking at the 4-hour chart, the resistance at the $48,000 has been too heavy for the bulls to overcome as the price is now struggling in a consolidation mode, which has made the cryptocurrency remain indecisive over the past few hours now. The resistance levels to watch are 50,500 and above.<\/p>\n

\"\"<\/a>
BTCUSD – 4 Hour Chart<\/figcaption><\/figure>\n

Meanwhile, the coin is still roaming around $47,142 as bears are pushing the price within the moving averages. Meanwhile, the $44,000 and below may come into play if the technical indicator RSI (14) moves below 50-level.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 February 13 The Bitcoin (BTC) has been facing slight selling pressure as of late, with the resistance found within the […]<\/a><\/div>","protected":false},"author":1742,"featured_media":283115,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7991,7992],"class_list":["post-283114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btcusd","tag-technical-analysis"],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD May Likely See Further Downside as Price Fails to Break above $48,000<\/title>\n<meta name=\"description\" content=\"The Bitcoin (BTC) has been facing slight selling pressure as of late, with the resistance found within the $47,000 level.\" \/>\n<meta name=\"robots\" content=\"index, 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