BTC/USD Signals Fresh Increase Above $36,000
Bitcoin Price Prediction – February 25
The Bitcoin price prediction shows that BTC is now rising to the upside, but it must clear $39,000 for a steady increase.
BTC/USD Long-term Trend: Bearish (Daily Chart)
Resistance Levels: $44,000, $46,000, $48,000
Support Levels: $30,000, $28,000, $26,000
BTC/USD is currently recovering higher from the opening price at $38,347 and the king cost must clear $42,000 resistance above the 9-day and 21-day moving averages to start a new increase in the near term. Looking at the daily chart, traders could see that BTC is yet to break above the 9-day moving average.
Bitcoin Price Prediction: BTC May Climb Higher this time
According to the daily chart, the Bitcoin price continues to converge above the key level of $38,000 as the 9-day MA trend-line is ready to cross above the green trend-line of the 21-day MA. However, the Relative Strength Index (14) moves toward 50-level in an attempt to get back to the north.
As BTC/USD heads to the north, a clear break above $40,000 could set the pace for a larger increase to the resistance levels of $44,000, $46,000, and $48,000. More so, should the Bitcoin price fail to stay above $38,000 resistance, the king coin may start a new decline and move towards the support level of $35,000. If there is a downside break below this level, the market price may hit the critical support levels of $30,000, $28,000, and $26,000 respectively.
BTC/USD Medium – Term Trend: Bearish (4H Chart)
The 4-hour chart shows that BTC/USD is bullish as the market continues to follow a bullish trend since the opening of today’s trading. However, the intraday trading is still looking bullish but any cross below the 9-day and 21-day moving averages, the next key support level could be at $36,500 and below.
However, considering the recent upward movement, the Bitcoin price may continue the bullish rally to $40,000 resistance. A climb above the mentioned resistance may further push the BTC price to the resistance levels of $42,000 and above as the Relative Strength Index (14) is now revealed moving close to 48-level, suggesting bullish movement.
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