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Bitcoin (BTC) Price Analysis for February 13

Price Predictions
Sat, 02/13/2021 - 14:42
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Denys Serhiichuk
How many price blasts can Bitcoin (BTC) perform before it faces a more profound decline?
Bitcoin (BTC) Price Analysis for February 13
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The market has entered a short-term correction phase as some coins have come back to the red zone.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

Meanwhile, the market share of Bitcoin (BTC) keeps going down and is now at 60.2%.

BTC’s market share
BTC’s market share

The relevant data for Bitcoin is looking the following way:

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $875,665,157,912

  • Price: $47,009.11

  • Volume (24h): $78,007,916,739

  • Change (24h): -1.75%

The data is relevant at press time.

BTC/USD: Can Bitcoin fix above $50,000 shortly?

The rate of Bitcoin (BTC) has gone down over the last day. The price change has accounted for -1.75%.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BTC) is about to show a reversal as the leading crypto has retested the liquidity level around $47,000.

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BTC, XRP, DOGE, XLM, ADA and IOTA Price Analysis for February 12

In this case, the nearest target is located at the resistance of $48,200.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the bigger time frame, Bitcoin (BTC) has not gone below $47,000 which means that there is the potential to see a retest of the level of $48,700 next week.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

From the long-term point of view, Bitcoin (BTC) is on the way to the crucial mark of $50,000. The possibility of such a move is confirmed by the bullish divergence on the RSI indicator and buying trading volume.

Bitcoin is trading at $47,034 at press time.

 
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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.