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Bitcoin (BTC) Price Prediction for February 13

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Tue, 13/02/2024 - 18:00
Bitcoin (BTC) Price Prediction for February 13
Cover image via www.tradingview.com

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Buyers remain more powerful than sellers, according to CoinStats.

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BTC chart by CoinStats

BTC/USD

The price of Bitcoin (BTC) has risen by 4% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of BTC is looking bearish as it is approaching the support level of $49,763. If the daily bar closes near that mark, the accumulated energy might be enough for a drop to the $49,000-$49,500 zone.

Image by TradingView

A similar picture can be seen on the bigger time frame. The price of BTC has made a false breakout of yesterday's bar's peak. If buyers cannot seize the initiative shortly, traders may expect a test of the support level of $49,048 soon.

Image by TradingView

From the midterm point of view, one should pay attention to the weekly candle's closure. If it happens above the interim level of $49,048, growth may continue to $50,000 and above. 

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BTC, ETH and XRP Price Prediction for February 12

In another scenario, bears may locally seize the initiative, which might lead to a correction to the $46,000-$48,000 area.

Bitcoin is trading at $49,630 at press time.

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