admin@moneyyes.info      +1 (xxx)-(xxx)-xxxx
Bitcoin Price Analysis 14 Feb: BTC Could Extend Decline

Bitcoin Price Analysis 14 Feb: BTC Could Extend Decline


Bitcoin price failed to continue above the $10,480 resistance area and declined recently. BTC/USD is now trading below $10,180 and it could continue to move down.

Key Findings:

  • Bitcoin traded struggled to gain strength above USD 10,480 and started a downside correction.
  • BTC/USD traded below the $10,180 support and a contracting triangle support on the 1-hour chart.
  • The price could continue to move down if it breaks the $10,090 support area.

Bitcoin Price Analysis

After a couple of failed attempts near the $10,460 and $10,480 levels, the bitcoin price started a downside correction against the US Dollar. BTC to USD broke the $10,300 support level to enter a short term bearish zone.

Looking at the 1-hour chart, the price even broke the $10,240 support level and the 25 simple moving average (1-hours, orange). Besides, the price traded below the 23.6% Fib retracement level of the upward wave from the $9,720 low to $10,478 high.

The market data is provided by TradingView, Bitfinex.

More importantly, the bitcoin price traded below the $10,180 support and a contracting triangle support on the 1-hour chart. The price is now trading near the $10,090 support level.

The 50% Fib retracement level of the upward wave from the $9,720 low to $10,478 high is also near the $10,096 level. Therefore, the price could decline sharply if it fails to stay above the $10,090 support area.

In the mentioned bearish case, the price could even test the $10,000 support area. Any further losses may perhaps lead bitcoin towards the $9,720 swing low in the near term.

On the upside, previous support at $10,180 might act as a resistance. The first major hurdle is near the $10,300 level, above which the price could continue to rise towards the $10,460 and $10,480 resistance levels.

Overall, Bitcoin is trading with a minor bearish bias below the $10,180 and $10,300 resistance levels. It seems like bitcoin could revisit the $10,000 support area, where the bulls are likely to take a stand in the near term.

Read this on freebitco.in (Earn free bitcoin) Ad1
  Contact Us
  Moneyyes.info

67/2 Lorem Ipsum

Tel : + (88) - XXX XXX
Mail : admin@moneyyes.info
Business Hours : 9:30 - 5:30

  Follow Us
Site Map
Get Site Map
  About

With the Internet taking over a large part of our lives, more people are looking to ways to earn money online to increase their financial inflows. The internet offers many opportunities to generate passive income and make money online.