Bitcoin (BTC/USD) Market Moves in Ranges of $45,000 and $40,000


Bitcoin Price Prediction – February 17
Sequence to a recording of a rebounding motion in the BTC/USD trade operations, the crypto-economic market currently moves in ranges of $45,000 and $40,000 lines. $44,195 and $42,944 have been the value-points between price has been trading since the commencement of trading activities today as the percentage rate is at 1.24 negatives.

BTC/USD Market
Key Levels:
Resistance levels: $45,000, $47,500, $50,000
Support levels: $40,000, $37,500, $35,000

BTC/USD – Daily Chart
The BTC/USD daily chart showcases the crypto market moves in ranges of $45,000 and $40,000 after the emergence of a bullish candlestick during the February 4th session. The 50-day SMA trading indicator is around the higher resistance level above the 14-day SMA trading indicator. Variant candlesticks characterized the pattern for range-bound moving styles caged between the SMAs. The Stochastic Oscillators have crossed southbound from the overbought region slightly against the range of 80.

Track live crypto price of 10000+ coins!


Can there be a sudden breakout at the $45,000 resistance trading level as the market moves in ranges?

A sudden breakout at the $45,000 resistance trading level may lack the potency of sustainability in the long run based on the fact that the bearish cycle trading session is still fresh as the BTC/USD market moves in range. It may take a while before long-position takers can get decent position entry, while an oversold reading condition of the trade at a lower zone will give a close sight of when it’s about to happen afterward.

Related:  Terra’s Trial Grips The Ecosystem

On the downside of the technical analysis, the BTC/USD market short-position takers may keep holding their stances firm around the $45,000 level. Some barriers set up between the value line and a higher value-line around $47,500, or an extension of the $50,000 level. Traders intending to short this market may have to be on the lookout until an active reversal force emerges from a higher trading spot to launch a sell order.

BTC/USD 4-hour Chart

The BTC/USD 4-hour chart exhibits the crypto-economic market moves in ranges of $40,000 and $45,000 as the smaller SMA trend line features closely around the emergencies of variant candlesticks. The 50-day SMA indicator is underneath the 14-day SMA indicator. The bullish channel trend lines drew northward to embody the crypto trading condition has been in a rebounding manner. The Stochastic Oscillators have crossed their lines southbound from the overbought region, slightly into the oversold region, signifying that a falling force is in place. However, the current emergence of candlesticks over several hours doesn’t suggest much difference against the ranging trend presently.

Cloudbet bonus


Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link