Bitcoin (BTCUSD) Price Recovery is set to Target the $25000.00 High Mark
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Bitcoin (BTCUSD) Price Forecast: February 15
The Bitcoin (BTCUSD) price recovery is set to target the $25000.000 upper resistance value and an opportunity for long investors. Should the bulls regroup and push higher, a further bullish breakout from the $23813.00 value will accelerate the new correction phase. The $25000.00 resistance mark and beyond might be the target.
Key Levels:
Resistance Levels: $22000.00, $23000.00, $24000.00
Support Levels: $20000.00, $19000.00, $18000.00
BTC (USD) Long-term Trend: Bullish (Daily Chart)
The Bitcoin market is having a bullish posture in its long-term outlook as can be seen from the chart above. Meanwhile, it also shows the impeding next big move in the price. The recent market structure has favored the bulls.
The coin price found a reliable resistance after completing the downside moves at the $21890.92 value as a pullback above the EMA-50 as the daily session resumes today. Thus, it is very likely that the bulls will continue rising as we are seeing a bullish correction in place at the present.
Similarly, the BTCUSD price may likely continue its journey up north as indicated by the daily stochastic which is pointing upwards in the oversold region of the daily signal. This means that the selling pressure has ended; we can therefore expect the upcoming bullish correction phase to reach a high of $25000.00 value soon in its higher time frame.
BTC (USD) Medium-term Trend: Bullish (4H Chart)
The BTCUSD pair is in a bullish momentum in its medium-term view. The trend has just resumed its rising pattern but has not yet reached its goal. The sustained bullish pressure in the past few hours has retained the strength of the crypto above the supply trend levels.
The aggressive move by the bulls pushed the Bitcoin price up to the $21890.92 resistance value above the moving average lines as the 4-hourly chart opens today. Thus, the bullish correction at the mentioned supply value returns the buy investors to the market for the next increase race.
Hence, we have a bullish bias that the coin price will rise further to the upside if the buying pressure should increase. Currently, the crypto is making a correction, there may be a potential rise in the price of BTCUSD and this may possibly retest the previous high of $24262.18 supply level which might further extend the coin price to the $25000.00 high trend line in the coming days in its medium-term outlook.
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