{"id":321362,"date":"2022-02-26T13:06:09","date_gmt":"2022-02-26T18:06:09","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=321362"},"modified":"2022-02-26T13:06:09","modified_gmt":"2022-02-26T18:06:09","slug":"bitcoin-price-prediction-btc-usd-nosedives-below-40000","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-usd-nosedives-below-40000","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Nosedives Below $40,000"},"content":{"rendered":"

Bitcoin Price Prediction – February 26<\/strong><\/p>\n

Today, the Bitcoin price prediction loses traction after hitting $40,300; losses likely to continue in the near term.<\/p>\n

BTC\/USD Long-term Trend: Bearish (Daily Chart)<\/h2>\n

Key levels:<\/p>\n

Resistance Levels: $44,000, $46,000, $48,000<\/p>\n

Support Levels: $35,000, $33,000, $31,000<\/p>\n

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

<\/p>

Buy Bitcoin Now<\/span><\/a><\/div>\n

BTC\/USD<\/a> is retreating to cross below the 9-day moving average as the coin posts minor losses of 0.15% on the day after commencing the trading at $39,242. However, the market movement has an intraday high of $40,300; although the world’s largest crypto touches the support level of $38,592 before going back to where it is currently trading at $39,178.<\/p>\n

Bitcoin Price Prediction: The Bitcoin Price May Plunge More<\/h2>\n

The Bitcoin price<\/a> just plunged below $40,000 once again, marking $38,592 as the current daily low at the moment. Bitcoin (BTC) could be searching for a new low by crossing below the 9-day moving average. Looking at the declining daily volume candle, together with the steady but stable recent Bitcoin price action, it can be assumed that a stronger move may be coming up soon into the market.<\/p>\n

At the time of writing, BTC\/USD is struggling to maintain the $39,000 level, and if the coin follows the downward trend as the Relative Strength Index (14) remains below the 50-level, the next supports may likely come at $35,000, $33,000, and $31,000. On the contrary, if the coin crosses above the 21-day moving average, the further movement could go above the upper boundary of the ascending channel to hit the resistance levels of $44,000, $46,000, and $48,000 which could be well above the channel.<\/p>\n

BTC\/USD Medium-Term Trend: Ranging (4H Chart)<\/h2>\n

On the 4-Hour chart, BTC price hovers around the upper boundary of the channel at $39,301 which may take time to persistently trade above $40,000. However, should the bulls gather enough strength and stay above the 9-day and 21-day moving averages, the upward movement may come at the resistance level of $41,500 and above.<\/p>\n

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

However, on the downside, immediate support is below the moving averages while the main support is at the $38,000 level. The price may likely fall to the support level of $37,000 and below. Technically, the Bitcoin price is still moving sideways while the Relative Strength Index (14) moves below 60-level, indicating an indecisive market movement.<\/p>\n

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!<\/strong><\/p>\n

<\/p>

Buy Bitcoin Now<\/span><\/a><\/div>\n

68% of retail investor accounts lose money when trading CFDs with this provider<\/em><\/p>\n

Read more:<\/strong><\/p>\n