Weekly Technical Analysis of Bitcoin Price 23 February

Bitcoin (BTC) is trading at around $ 4,000 in the past few days. The $ 4,000 level is a psychological price, and thereafter there is a likely strong increase in the price of bitcoin. Bitcoin has kept himself at the $ 4,000 border for a few days, which is a positive sign.

23f btc.png

Bitcoin (BTC) is trading at around $ 4,000 in the past few days. The $ 4,000 level is a psychological price, and thereafter there is a likely strong increase in the price of bitcoin. Bitcoin has kept himself at the $ 4,000 border for a few days, which is a positive sign.
The uptrend average (EMA) is twenty days upward, and the RSI index is located near the purchasing saturation range, both of which indicate that buyers are more likely than sellers in the short term. However, the 50-day moving average (SMA) is still flat, indicating that the medium-term trend has not changed.

The bitcoin price will hit resistance at $ 4,255 if resistance runs out, and a double foam pattern will be completed, and the next target could be priced at 5,273. Took We propose that stop loss or emergency sales continue at $ 3,230.

On the other hand, if the bitcoin price fails to break the $ 4,000 mark and fall below $ 3,600, our upside will be invalid.