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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

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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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.

👉MUST READ Bitcoin Price Prediction for 2019: Will BTC Price Get Back to $20,000?

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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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
You may also like:
Contents

After trying to retain the position above $4,000, Bitcoin seems to be stuck. What to expect from BTC during the following weeks? What’s the best time to invest in Bitcoin? Let’s try to figure it out with tradingview users: they will provide their BTC price predictions and opinions about investment strategies.

Bitcoin has to break another resistance

Both shortage and resistance breaking are possible for BTC

Bitcoin price chart from DianKemala

This BTC price chart clearly explains the influence of the Fibonacci level on its price. Traders saw a big bearish candle 2 days ago, but bears stopped at $3,936 and started performing a sideways consolidation pattern.

Bitcoin failed to break the Fibonacci resistance zone (4004 - 3986), which isn’t a bullish sign, but we have another resistance above at $4,038. If Bitcoin is able to break up this resistance, the bullish period will continue. The important support before the bearish period is around $3,936. If this support breaks down, expect a bearish target at $3,860, or maximum at $3,780. 

Will BTC get back to $3,600?

$3,600 level is ideal for investments

Bitcoin price chart from MarcPMarkets

We are watching the BTC market trying to overcome 4K resistance level with varying success. According to MarcPMarkets, the current BTC trading environment does not offer an attractive reward/risk for putting any new money to work.

All risks should be properly assessed. The low 4K area is still the range resistance, while the lower 3K area is the range support. In the green box, you can view the potential reward, while the red box represents the potential risk. Why would we put on any new swing trades at range highs when chances are the price is more likely to test much lower levels in the short term? 

Candlesticks or RSI are not the only signals of upcoming BTC fall. The fact that price is beginning to show signs of structural weakness confirms our reasoning that staying out of any new swing trades near the range highs is the best choice for now. Support levels begin around the high 3600s and continue through to the 3450 levels. That might be the ideal time for investments.

Although supply may be slowly removed from the market, it will take some time before the effects play out. So we will continue to wait for two particular scenarios: 1) price retraces toward the lower part of the range for a reversal to go long; or 2) price breaks beyond 4150 and provides a momentum continuation pattern for a long.

BTC is ready for capitulation

 BTC movement is around the corner

Bitcoin price chart from DataPatron

During several months Bitcoin was consolidating in a tight range between $3,300 and $4,400. Now it seems to be completing sideways mission, and long term volatility promises a serious movement that’s around the corner.

I am almost sure another red leg symmetrical to the previous one (from 6 to 3k) is before us.

All in all, Bitcoin is in a broader recovery over the long term, but the short term is just not in a position that offers attractive reward/risk. Consider an investment in BTC, if it hits the $3,600-3,700 bottom line in a few weeks.

BTC/USD price chart on TradingView

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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