Bitcoin Price Analysis: BTC bulls to have a bumpy road below $36,450

  • BTC/USD extends the previous day’s pullback from 200-bar SMA.
  • Sluggish MACD, normal RSI favor further consolidation of gains.
  • Resistance lines stretched from January 14 and 08 add to the upside filters.

BTC/USD drops to $32,250, down 1.0% intraday, amid the initial trading on Wednesday. In doing so, the crypto major respects Tuesday’s U-turn from 200-bar SMA amid struggling MACD signals and normal RSI conditions. As a result, the quote’s further weakness can’t be ruled out.

During the fall, the weekly low near $30,800 can act as an intermediate halt before highlighting an ascending trend line from December 30, close to the $29,000 round-figure.

It should, however, be noted that Friday’s bottom near $28,770 and the monthly low of $27,777 acts as extra filters to the south for the BTC/USD bears.

Alternatively, an upside clearance of 200-bar SMA, at $33,050 now, will direct the BTC/USD buyers towards a two-week-old resistance line, at $34,420, ahead of challenging the monthly falling trend line resistance, currently around $36,450.

If at all, the BTC/USD bulls manage to cross the $36,450 hurdle, the record top of $41,987 will only be a buffer during the rally towards the $50,000 threshold.

Overall, BTC/USD remains in an uptrend but key short-term resistances offer breathing spaces to the bulls.

BTC/USD four-hour chart

Trend: Pullback expected

Additional important levels

Today last price 32188.63
Today Daily Change -331.14
Today Daily Change % -1.02%
Today daily open 32519.77
Daily SMA20 35713.91
Daily SMA50 29193.28
Daily SMA100 22632.46
Daily SMA200 16741.74
Previous Daily High 32944.55
Previous Daily Low 30838.34
Previous Weekly High 37860.2
Previous Weekly Low 28768.76
Previous Monthly High 29307.4
Previous Monthly Low 17578.63
Daily Fibonacci 38.2% 32139.98
Daily Fibonacci 61.8% 31642.91
Daily Pivot Point S1 31257.22
Daily Pivot Point S2 29994.67
Daily Pivot Point S3 29151.01
Daily Pivot Point R1 33363.44
Daily Pivot Point R2 34207.1
Daily Pivot Point R3 35469.65



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

VET ready for a rebound after bloody correction

VeChain price witnessed a brutal 45% sell-off that kicked off on February 12. Although VET crashed as low as $0.033, market participants are aggressively buying the dips.

More VeChain news

EDLG eyes lower lows as bearish pressure mounts

Elrond price broke down from a descending triangle as it sliced through the $126 support barrier. If sellers continue to pile up, then the reversal pattern forecasts a downswing to $74. Declining developer activity adds credence to EGLD’s bearish outlook.

More Elrond News

ALGO plummets enormously despite newly launched public chain

The cryptocurrency market is in bloodshed on Tuesday during the European session. Algorand has not been spared from the battering, which has led to massive losses. 

More Algorand News

LTC breakdown is just getting started, targets $150

Litecoin recently abandoned the journey to all-time highs following a barrier slightly under $250. The correction has proved difficult to stop, with Litecoin losing various tentative support levels like $220 and $200. 

More Litecoin News


Bitcoin Weekly Forecast: BTC journey to $100,000 might be easier than expected

This past week has been extremely beneficial for Bitcoin which jumped by 30% since Monday 8. Several positive announcements, especially Tesla purchasing $1.5 billion worth of the digital asset propelled the flagship cryptocurrency to new highs.

Read the weekly forecast