Bitcoin (BTCUSD) Price Forecast: February 15
BTCUSD price is negotiating the upper resistance level as the coin is currently recovering and also remains firm above the supply levels. If the bulls can increase their purchasing pressure and the price closes above the $50259 supply level, the crypto may continue in that direction and it might reach the $51000 upper resistance level and beyond, which would be a great turnaround for the coin traders.
Key Levels:
Resistance Levels: $47000.00 $48000.00, $49000.00
Support Levels: $42000.00, $41000.00, $40000.00
BTC (USD) Long-term Trend: Bullish (4H Chart)
BTCUSD remains bullish on the higher time frames. The coin is seen negotiating the upper resistance area indicating an uptrend.
However, the previous action at the $49539 high level in the past session has sustained the coin price to remain above the trend line in its recent high.
The buy traders made a strong push from the $49539 value to the $49677 resistance level above the EMA-50 as the 4-hourly chart opens today while negotiating the upper resistance level, which indicates an intraday growth and more gains for buyers.
Therefore, if the bulls increase their tension in the market, the price tendency will move above the key levels to the upper resistance zone.
In addition, the daily stochastic suggests an uptrend continuation. It is expected of buyers to push the price of Bitcoin further up to a significant level as it is negotiating the upper resistance zone and in this case, the target might be the$51000 upper resistance level soon in its higher time frame.
BTC (USD) Short-term Trend: Bullish (1H Chart)
BTCUSD is also showing a more bullish impact in its short-term outlook. The coin price is negotiating the upper resistance level as the bulls have the market at their disposal at the moment.
The coin has been making higher highs and higher lows in previous actions; this has made it possible for the price to maintain an uptrend in its recent price level.
The bulls made a corrective rally up to the $49677 resistance level above the EMA line shortly after the 1-hourly chart opened today. This however makes it easier for the largest cryptocurrency to rise further as it’s negotiating the upper resistance level.
In a like manner, the daily signal indicates an uptrend, thus trading above the moving average levels will also enable the market value of BTCUSD to keep pushing up. Therefore, if the bulls should add more aggression to their activities in the market; the $51000 upper resistance level might be reached soon in its short-term time frame.
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