Bitcoin Price Predictions - February 9

The daily chart shows that the Bitcoin price prediction is showing positive signals, and is likely to accelerate higher in the short term.

BTC/USD Long-term Trend Bearish (Daily chart)

These are the key levels

Resistance Levels: $50,000 - $52,000 - $54,000

Support Levels: $39,000, $37,000, $35,000

The daily chart shows that BTC/USD has crossed $44,000, indicating that the king coin is poised to surpass the channel's upper limit. The first digital cryptocurrency is trading at $44,122 above its 9-day and 21 day moving averages. The Bitcoin price is close to breaking the $45,519 record, which is quite extraordinary.

Prediction of Bitcoin's Price: Bitcoin (BTC), Prepares for the Upside

The daily chart shows that the Bitcoin price is trading at the upper border of the channel, which indicates that the price has established a bullish signal. The long-term outlook for bulls is favorable, as the daily close produced a bullish candle. Eyes are now on daily resistances of $52,000, $50,000, and $54,000, respectively.

Any drop below the current level could result in critical support levels below the 9-day moving mean. If BTC falls below the $40,000 support level, the coin can still rely on its long-term support levels of $39,000, $37,000 and $35,000. The technical indicator Relative strength Index (14) has moved above 64-level suggesting that there are more bullish signals.

BTC/USD Medium-term Trend: Bullish (4H Chart)

The 4-hour chart shows that Bitcoin prices are trading above the 9 and 21-day moving mean of $44,010. Today's price movement is impressive as it rises above the long-awaited resistance of $44,000 with an impressive cross. BTC/USD continues to be bullish above this level, as the technical indicator Relative strength Index (14) rises above 60-level.

BTC could take a fall if the bulls fail to push the price higher. The coin could also breach the moving averages, which could lead to another support level at $42,000 or below. If the bulls can find a solid resistance level at $45,000, then the coin could continue its bullish move towards the upper border of the channel and hit the resistance level at $46,000.

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By: Azeez Mustapha
Title: Bitcoin Price Prediction: BTC/USD Climbs Above $44,000; Time to Resume Higher?
Sourced From: insidebitcoins.com/news/bitcoin-price-prediction-btc-usd-climbs-above-44000-time-to-resume-higher
Published Date: Wed, 09 Feb 2022 18:54:46 +0000