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Bitcoin Price Prediction February 2019 – Will It Break Above $4000?

  • Stavros Georgiadis
    📈 Price Predictions

    From the level of $4000 in early January 2019, the current price for Bitcoin as of Feb. 2, 2019 is at $3500


Bitcoin Price Prediction February 2019 – Will It Break Above $4000?
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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.

Contents

Bitcoin price performance for early 2019 has been negative, almost -10% for the first month of 2019. From the level of $4000 in early January 2019, the current price for Bitcoin as of Feb. 2, 2019 is at $3500. In this article we will make a Bitcoin price prediction, a monthly price prediction for February 2019. Coin price predictions are highly unpredictable, and for this reason our price predictions for Bitcoin and the month of February will have two scenarios, an optimistic or bullish Bitcoin price prediction, and a pessimistic or bearish Bitcoin price prediction.

Bitcoin price prediction for February 2019

Here are some monthly Bitcoin price predictions by some websites as a reference only:

·     Longforecast.com has a monthly Bitcoin price forecast with a range of min-max as $2863-$3810 and a closing price of $3243.


·     Tradingbeasts.com mentions “The Bitcoin price is forecasted to reach $3,658.97 by the beginning of February 2019. The expected maximum price is $4,549.91, minimum price $3,093.94. The Bitcoin price prediction for the end of the month is $3,639.93.”

·     Coinpredictor.io has the most bullish Bitcoin price prediction for Bitcoin estimating that on February 28, 2019 its price may be at $5712.80, a forecast based on an event-based algorithm.

Bitcoin monthly price predictions based on technical analysis

Bitcoin weekly chart

We will mention two Bitcoin price prediction scenarios based on the weekly and daily charts.

Bitcoin daily chart

Bitcoin price prediction for February 2019 – Bullish scenario

What is Bitcoin price prediction for February 2019 based on our technical analysis? The bullish scenario is that price will be above the $4000 level.

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There is a strong support at the levels of $3600 and $3300, the MACD indicator is flat showing a range-bound price action, the daily Bollinger bands are at $3440 and $3933 as of January 28, 2019 and momentum indicator is also flat, indicating that the recent downtrend may be losing its strength. The stochastic indicator (14,3,3) has bounced off the oversold level of 20% but still lacks any strength. The ADX/DMI indicator, which measures the strength of the trend is currently below the level of 25 which indicates a strong trend. In other words, a range-bound trend is evident, and Bitcoin shows a consolidation. While this is a monthly Bitcoin price prediction and not a daily one, a conservative Bitcoin price prediction to the upside would be a range of $3900-$4200 by the end of February 2019. These levels act as strong resistance, but they are realistic ones. A BTC price prediction at $3900 by the end of February 2019 coincides with the current price level of 50-day exponential moving average, with a current value of $3918.

Bitcoin price prediction for February 2019 – Bearish scenario

Cryptocurrency price predictions are mentioned not as investment recommendations, but rather as further thoughts for technical analysis. The bearish Bitcoin price prediction for February 2019 is that the current strong support at $3500 will not hold, and a decline to the lower level of $3250 will occur. Can the support of $3250 hold if revisited? A very tough answer, with all odds being open for the moment.

The current trend is a downtrend, and both 50-day and 20-day exponential moving averages are pointing down, indicative of a strong downtrend. As long as Bitcoin is fighting and not achieving to close above the 20-day price exponential moving average, with a current price of $3686, any short-term rallies may fade soon. The -DI line and the +DI line values are currently at 24.69 and 15 respectively, showing that a downtrend is still a dominant trend.

The support at $3250-$3280 is very crucial, and a break below it literally opens the room for a more dramatic decline. An accurate coin price forecast or coin price prediction for Bitcoin should take into considerations both Bitcoin price prediction scenarios.

What is the most probable Bitcoin price prediction scenario for February 2019?

If we had to choose a scenario about the forecast of Bitcoin price for February 2019, we would give a higher importance to the bearish scenario with the note that we would not like to trade against the trend, an obvious downtrend, but we would not place increased odds for a severe decline below the level of $3250-$3280, at least for February 2019.

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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.

Contents

After a short pause, Bitcoin has decided to take a few steps up to reach the new resistance level. What’s the chance for BTC to hit new price levels? Read Bitcoin price predictions from Twitter users to find out what they think about the short-term prospects of this cryptocurrency.

BTC will continue rising

There are many positive forecasts claiming that BTC will reach new heights in the nearest future:

$5,600 is the next threshold to reach:

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The bullish shift hasn’t ended yet:

Tendencies remain positive:

Expect new bullish runs:

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Time for retracement?

At the same time, many users see that there’s some BTC volume declining, which means it’s very likely to dump a bit:

Another piece of proof:

A lot depends on Bitcoin’s ability to stay above the $5,000 level:

Reaching a new height and dumping is another very likely scenario for BTC:

However, the next height before a correction might be somewhere about $7,000:

Time will show whether BTC will be able to overcome the new resistance. At the moment, it’s not the right time to enter the market. Wait for BTC to dump a bit – it is very likely to happen.

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