BTC/USD are trading at 45117 and continue to move within the correction and the bullish channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $809,750,880,143. Moving averages indicate the presence of a short-term upward trend in Bitcoin. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of Digital Gold and a potential continuation of the growth in the value of the asset already from current levels. As part of the forecast for the cryptocurrency rate for tomorrow, February 16, 2022, we should expect an attempt to develop a correction in the value of the digital asset and a test of the support level near the 40405 area. From where we should again expect a rebound upwards and an attempt to continue the growth of the Bitcoin rate with a target above the 47245 area.
Bitcoin Forecast BTC/USD February 16, 2022
An additional signal in favor of the rise in BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal in favor of this option will be a rebound from the lower boundary of the bullish channel, as well as from the lower boundary of the Wedge pattern. Cancellation of the growth option for the exchange rate and the cost of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 38125. This will indicate a breakdown of the support area and a continued fall in the Bitcoin exchange rate with a potential target at 33755. A confirmation of the rise in the price of the asset will be a breakdown of the resistance area with the price fixing above the level of 44005, which will indicate a breakdown of the upper boundary of the “Wedge” model.
Bitcoin Forecast BTC/USD February 16, 2022 suggests an attempt to test the support level near the area of 40405. And further, the continued growth of the cryptocurrency with a potential target at the level of 47245. An additional signal in favor of the growth of the Bitcoin rate will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency rise option will be a fall and a breakdown of the 38125 area. This will indicate a continued decline with a potential target below the 33755 area.
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