Bitcoin BTC/USD ends the trading week at the level of 47312 and continues to move in the framework of the growth and the ascending channel. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from the buyers of the asset and the potential continued growth of the asset’s quotes. At the moment, we should expect an attempt to develop a correction and test the support area near the level of 41055. Where can we expect a rebound and continued growth in the Bitcoin rate with a potential target above the level of 55305 again.
Bitcoin Forecast and Analysis February 15 — 19, 2021
An additional signal in favor of raising the BTC/USD quotes in the current trading week, the week of February 15 — 19, 2021 will be a rebound from the lower border of the ascending channel. The second signal will be a rebound from the support line on the indicator relative to the strength (RSI). Cancellation of the Bitcoin growth option will be a fall and a breakdown of the 34105 area. This will indicate a breakdown of the support area and a continued fall in BTC/USD quotes with a potential target below the level of 18505. Confirmation of the development of an upward trend will be a breakdown of the resistance area and closing of quotations above 49705, which will indicate a breakdown the upper border of the ascending channel.
Bitcoin Forecast and Analysis February 15 — 19, 2021 assumes an attempt to support the support area near the level of 41055. Then, the cryptocurrency will continue to grow to the area above the level of 55305. An additional signal in favor of the rise in the Bitcoin rate this trading week will be a test of the support line on the relative strength. Cancellation of the growth option for Bitcoin cryptocurrency quotes will be a fall and a breakdown of the 34105 area. In this case, we should expect a continued decline with a target at 18505.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
