Bitcoin Technical Analysis – Are we headed to $29,000 or $55,000 – 17th Feb, 2022

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as per bitcoin 1D Chart, Bitcoin recent actions has been ridiculous as it went from ATH at $69,000 to Almost hitting $32,000 in last few weeks. while currently bitcoin is trading at around $42,000. it’s good to know what could be the next bitcoin move. whether it could go below $40,000 or break out to $50,000.

Bitcoin Technical Analysis

As shown in the Bitcoin Chart Above that Bitcoin is currently being rejected at $45,000 levels and the support levels are currently at around $40,500 -$40,000 beyond that if bitcoin breaks this level Bitcoin next major support is at around $32,000 which is a major one. then we have a last major hope at $29,000 if bitcoin breaks down even more.

Bitcoin Resistance Levels

Bitcoin next resistance levels will be around at $45,000 which bitcoin does not seem to break out above that level and has been rejected 2 times from the level. after $45,000 Bitcoin next resistance level will be at around $52,500.


Bitcoin Next Probable Move – $28,000 or $55,000

Sentiments around the crypto market and overall stock markets are neutral as per several events going around the world such as russia and ukraine conflict etc.

if the price of bitcoin falls below $40,300 then it’s looks bearish for the short term and might test around $32,000 and even $29,000 is probable for the next couple weeks and months.

nonetheless long term bitcoin price action remains bullish.