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Bitcoin (BTC) Price Analysis for February 18

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Sat, 18/02/2023 - 13:21
Bitcoin (BTC) Price Analysis for February 18
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Bulls are not giving up even on the weekend, according to CoinMarketCap's ranking.

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Top 10 coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has gained a lot of value today, rising by 3.89%.

BTC/USD chart by TradingView

On the hourly chart, the price of Bitcoin (BTC) has bounced back from the support level of $24,453 and is now on the way to the recently formed resistance at $24,677. If buyers can hold the gained initiative, the growth may continue to the $24,800 zone.

BTC/USD chart by TradingView

On the daily time frame, the price of Bitcoin (BTC) is in the middle of the narrow channel between the support at $24,258 and the resistance at $25,270.

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DOGE, SHIB Price Analysis for February 17

Any sharp moves are unlikely on the weekend, and the more likely scenario is sideways trading in the area of $24,500-$25,000.

BTC/USD chart by TradingView

On the weekly chart, the price has made a false breakout of the resistance at $25,212. However, one should focus on the candle's closure. If it happens near the $25,000 mark or even above, the growth may continue to the $26,000 mark next week.

Bitcoin is trading at $24,591 at press time.

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