BTC/USD quotes are trading at the 86299 level and continue to move within the framework of a bullish correction and a descending channel. The moving averages indicate a short-term bearish trend for Bitcoin. Prices have broken through the area between the signal lines downward, signaling selling pressure on the “Digital Gold” and the potential continuation of the bearish momentum from the current levels. In the cryptocurrency forecast for tomorrow, February 28, 2025, a bullish correction of the digital asset’s price and a test of the resistance level near the 92665 area are expected. From there, another rebound downwards is anticipated, aiming for a continued decline in Bitcoin’s price below the 71405 area.
Bitcoin Forecast and Analysis for February 28, 2025
An additional signal in favor of a BTC/USD price drop will be a test of the resistance line on the Relative Strength Index (RSI). A second signal supporting this scenario will be a rebound from the upper boundary of the descending channel. A strong rise in the asset’s price and a breakout of the 97605 area will cancel the bearish scenario. This would indicate a breakout of the resistance area and the continuation of Bitcoin’s growth with a potential target at the 102505 level. The price decline confirmation would be a breakdown of the support area and consolidation of the price below the 83065 mark.
Bitcoin Forecast and Analysis for February 28, 2025 suggests an attempt to test the resistance level near the 92665 area, followed by a continuation of the cryptocurrency’s decline with a potential target at the 71405 level. An additional signal for Bitcoin’s price decline will be a test of the resistance line on the RSI. A breakout of the 97605 area will cancel the bearish scenario, indicating further price growth with a potential target above the 102505 mark.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
