Gemini

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-trends-and-predictions/" data-wpel-link="internal">Bitcoin Price Trends and Predictions</a><br></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/caution-critical-data-in-bitcoin-btc-that-could-have-serious-impact-on-price/" data-wpel-link="internal">Bitcoin</a> price has reached a new daily peak of $43,559 at the time of writing and appears to be continuing its upward trend. We had mentioned that the $43,800 barrier would determine the short-term price performance today. If the upward momentum increases again, BTC could start a new rally that may extend up to $49,100.</p> 
<h2 style="text-align: justify" id="bitcoin-predictions">Bitcoin Predictions</h2> 
<p style="text-align: justify">Readings on the weekly chart show that the BTC price has been correcting since the January peak. Although BTC has recovered slightly over the past two weeks after forming a weekly bearish candle during the peak week, it has not yet fully rebounded. The weekly RSI is indicating a downward trend, and we might see the Fed continue with statements that could dampen excessive optimism this week.</p> 
<p style="text-align: justify">Popular crypto analyst CryptoMichNL predicts that the Bitcoin price will climb to $50,000 before a new downturn.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-311351 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/BTC-Michael-Yorum.jpg" alt="" width="1200" height="592"></p> 
<p style="text-align: justify">Fred Krueger suggests that the BTC price needs to reach its annual ATH level before the expected block reward halving in April.</p> 
<blockquote> 
 <p style="text-align: justify">“The GBTC selling pressure on BTC price has largely ended. The 1 billion coins from the Gemini sale will be returned, thus the market is neutral. On the other hand, accumulation continues; they have reached 175,000 coins worth 7.5 billion. This happened over 18 trading sessions. In the next 30 to 60 days, there will be 20 to 40 trading sessions. I bet this will trigger a new entry of 4-6 billion dollars.”</p> 
</blockquote> 
<p style="text-align: justify">XForceGlobal believes that BTC must undergo a deep correction before reaching new highs.</p> 
<h2 style="text-align: justify" id="bitcoin-price-commentary">Bitcoin Price Commentary</h2> 
<p style="text-align: justify">Two significant resistance zones stand out in the daily chart readings. These are at $43,600 and $44,800. The resistance is formed by the combination of Fibonacci retracement levels and a horizontal resistance area with the rising parallel channel trend line.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class=" wp-image-311350 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/BTC-Analiz-Subat.png" alt="" width="1201" height="491"></p> 
<p style="text-align: justify">If the Bitcoin price cannot decisively break through this region and make strong closes above it, we may see a sharp decline to the nearest strong support area at $35,500. And after the last correction, a reversal in price direction could weaken the accumulated orders below $40,000.</p> 
<p style="text-align: justify">Conversely, a breakout from the key resistance zone could trigger a rise up to $49,500.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-price-trends-and-predictions/" data-wpel-link="internal">Bitcoin Price Trends and Predictions</a></h5>

Bitcoin Price Trends and Predictions

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