2024

Bitcoin

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   Feb 02, 2024 at 18:37 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/365/900_900_1/05bwy8141rlrjdi0ky0a7vo7sgq5phsm.jpg" width="900" height="563" alt="" title="">
 <p><strong>The Bitcoin (BTC) price is currently trading within the moving average lines, despite the strong resistance at the $44,000 mark.</strong></p>
 <h2 style="text-align: justify;" id="long-term-forecast-for-the-bitcoin-price-bullish">Long-term forecast for the Bitcoin price: bullish</h2>
 <p style="text-align: justify;">The latest cryptocurrency <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com points out that on January 29, buyers kept the price above the moving average lines, but the cryptocurrency was strongly rejected at the $44,000 resistance. The BTC price is now fluctuating between the 50-day SMA and the moving average lines.</p>
 <p style="text-align: justify;">Bitcoin is currently trading at $42,961. If Bitcoin rises above the 50-day SMA support, it is expected to rally above the $44,000 resistance. The bullish momentum will continue to a high of $47,000. If the 21-day SMA support is broken, the value of Bitcoin will fall. Bitcoin price will fall to the psychological price level of $40,000.</p>
 <h2 style="text-align: justify;" id="bitcoin-indicator-reading">Bitcoin indicator reading</h2>
 <p style="text-align: justify;">The BTC price has fallen betweenthe moving average lines after the recent rejection at $44,000. Bitcoin is moving modestly due to the emergence of doji candlesticks. The moving average lines are sloping horizontally due to the termination of the uptrend.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators:</h3>
 <p style="text-align: justify;"><b>Key resistance levels – $35,000 and $40,000</b></p>
 <p style="text-align: justify;"><b>Key support levels – $30,000 and $25,000</b></p>
 <p style="text-align: justify;"><b><img width="1024" alt="BTCUSD_(Daily Chart) – FEB.2.jpg" src="https://cdn.thebittimes.com/images/2024/02/03/1ab079ad44c36ab276bbb326e571f187.webp" height="551" title="BTCUSD_(Daily Chart) – FEB.2, 2024"><br> </b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-btc-usd">What is the next direction for BTC/USD?</h2>
 <p style="text-align: justify;">After a sharp rejection of the high at $44,000, Bitcoin is currently trading between $41,800 and $44,000. The price movement is limited to the current range. The cryptocurrency is trading modestly due to doji candles. The candlesticks indicate the sentiment of buyers and sellers towards the price.</p>
 <p style="text-align: justify;"><img width="1024" alt="BTCUSD__(4-hour Chart) – FEB.2.jpg" src="https://cdn.thebittimes.com/images/2024/02/03/c10982046dd0c1c5fca8f2e2c03e7c53.webp" height="551" title="BTCUSD__(4-hour Chart) – FEB.2, 2024"><br></p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-trades-marginally-and-faces-a-harsh-rejection-at-44-000-tbt78719.html">https://thebittimes.com/bitcoin-trades-marginally-and-faces-a-harsh-rejection-at-44-000-tbt78719.html</a></p>

Bitcoin Trades Marginally And Faces A Harsh Rejection At $44,000

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