Bitcoin (BTCUSD) Price Forecast: February 10
It’s BTCUSD buying time, the price is currently running a bullish race as the crypto is facing high pressure from the bulls. Conversely, if the coin prices sustain above the level of $47732.50, the bulls’ trend would continue upward and possibly hit the $48000.00 upper high level which indeed will be a turnaround for the coin holders.
Key Levels:
Resistance Levels: $43000.00 $44000.00, $45000.00
Support Levels: $39000.00, $38000.00, $37000.00
BTC (USD) Long-term Trend: Bullish (Daily Chart)
The BTCUSD chart below indicates a buying time and remains bullish. This is clear as we can see the prices trading above the moving average lines indicating an uptrend. This looks nice for the buy trader and signifies a buying time and the best crypto signal.
However, the previous action by the bulls at the $44430 high level during yesterday’s trading session has sustained the coin price to remain above the trend line in its recent high.
The coin price finds reliable resistance at around $45179.98 level above the EMA, resulting in intraday gains. Hence, staying above the resistance trend lines indicates a strong possibility for a bullish correction.
Adding to this, the underlying sentiment suggests an uptrend continuation in the coming days as indicated by the daily stochastic. It is expected of buyers to push the price of Bitcoin further up to a significant level and in this case, the target might be the $48000.00 supply level as it suggests a buying time in the higher time frame.
BTC (USD) Medium-term Trend: Bullish (4H Chart)
On the 4-hour chart, prices are above the moving averages and have confirmed a buying time and a bullish momentum breaking the previous high. The BTCUSD pair is in a smooth uptrend as can be seen from the chart below.
The high bullish impact on the crypto at the $43678.00 high level in the previous action has contributed to its bullishness in its recent high.
The price responded to the shift in the market structure and is currently above the EMA-50 at the $45179.98 high value as the 4-hour chart opens today. Staying above the EMA-50 will enable the bulls to influence the price tendency and swing up easily for an upward performance. Hence, a buying time.
Similarly, the market is now pointing up at around level 37% of the daily stochastic. This means that the emergence of the bulls is crucial at this moment.
Hence, the bulls are expected to turn around the price of Bitcoin and may likely reach the $48000.00 supply value soon as the crypto indicates a buying time in its medium-term outlook.
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