Advertisement
AD

Main navigation

Bitcoin (BTC) Price Analysis for February 8

Advertisement
Thu, 8/02/2024 - 18:00
Bitcoin (BTC) Price Analysis for February 8
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.

Read U.TODAY on
Google News

The growth continues on the cryptocurrency market, according to CoinStats.

Advertisement
BTC chart by CoinStats

BTC/USD

The rate of Bitcoin (BTC) has increased by almost 5% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of BTC keeps setting new local peaks. Currently, one should pay attention to the daily bar closure in terms of the $44,873 level. 

Related
Solana (SOL) Price Analysis for February 7

If it happens above that mark, the rise is likely to continue to the $46,000 area.

Image by TradingView

On the bigger time frame, the rate of BTC is growing after a breakout of the $44,000 zone. If the current candle closes with no long wick, the accumulated energy might be enough for a test of the nearest resistance level of $46,516.

Image by TradingView

From the midterm point of view, traders should pay attention to the weekly bar closure. If it happens near the interim level of $46,000, there is a chance to see a test of the $48,000 range by the end of the month.

Bitcoin is trading at $45,361 at press time.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles