Bitcoin Price Prediction: BTC recovery stays doubtful below $52,300


  • BTC/USD struggles to extend recovery moves from 21-day SMA, one-month-old support line.
  • 10-day SMA, bearish MACD probes the Bitcoin buyers.
  • February 10 low adds to the downside filters.

BTC/USD takes the bids near $49,450 while extending the previous day’s recovery moves during the early Thursday’s trading. The quote rose for the first time in the last two days on Wednesday following its bounce-off key support indicators, namely the 21-day SMA and an upward sloping trend line from January 27.

Even so, MACD flashes the strongest bearish signals in February while 10-SMA, currently around, also probes the buyers targeting the $50,000 immediate hurdle.

In a case where the Bitcoin buyers manage to cross $52,300 SMA resistance, the recent record top near $58,355 and the $60,000 will be on their radars.

Alternatively, 21-day SMA and the stated support line, respectively around $48,000 and $46,000, could restrict the quote’s short-term pullback moves.

However, any further weakness below $46,000 will not hesitate to challenge the February 10 low near $43,700, a break of which will eye for the early month top near $41,000 and the $40,000 threshold afterward.

Overall, Bitcoin is still under threat of a pullback unless clearing immediate resistances stated above.

BTC/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 49354.31
Today Daily Change 453.17
Today Daily Change % 0.93%
Today daily open 48901.14
 
Trends
Daily SMA20 47794.42
Daily SMA50 40268.43
Daily SMA100 30938.77
Daily SMA200 21453.83
 
Levels
Previous Daily High 54188.95
Previous Daily Low 44954.63
Previous Weekly High 56348.35
Previous Weekly Low 45855.52
Previous Monthly High 41987.21
Previous Monthly Low 27772
Daily Fibonacci 38.2% 48482.14
Daily Fibonacci 61.8% 50661.44
Daily Pivot Point S1 44507.53
Daily Pivot Point S2 40113.92
Daily Pivot Point S3 35273.21
Daily Pivot Point R1 53741.85
Daily Pivot Point R2 58582.56
Daily Pivot Point R3 62976.17

 

 

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