Bitcoin Price Analysis Today

[Herbert2020]

The BTC/USD pair is likely to face resistance at $9,500, which was the high on February 3. Above this, a move to $9,920 can’t be ruled out, but we expect the range of $9,920 to $10,700 to act as a strong resistance.

you can't expect anything in this range in my opinion. the $9500 level is an important price level but beyond that things may speed up by a lot because it may act as a signal to a lot of investors to start FOMO buying bitcoin because it has reached some arbitrary resistance. and FOMO buyers can push the price super fast and the more resistances that are broken the bigger the rise will go and the following resistances will become smaller.

[Wolfwar]

The BTC/USD pair is likely to face resistance at $9,500, which was the high on February 3. Above this, a move to $9,920 can’t be ruled out, but we expect the range of $9,920 to $10,700 to act as a strong resistance.

you can't expect anything in this range in my opinion. the $9500 level is an important price level but beyond that things may speed up by a lot because it may act as a signal to a lot of investors to start FOMO buying bitcoin because it has reached some arbitrary resistance. and FOMO buyers can push the price super fast and the more resistances that are broken the bigger the rise will go and the following resistances will become smaller.

everything is rightly said, but we also need to take into account that to date, the drop of bitcoin has not stopped and we are only observing fluctuations in one or another side of the price. I think that uniquely many wait for time to buy an even cheaper bitcoin.

[snowblack]

We were expecting Bitcoin to retest the lows after turning down from the trendline. But the bears could not break below the $8,000 mark. 

Currently, the price is likely to face resistance at the downtrend line and above it, at the 20-day EMA. We expect the $8,600 to $9,400 levels to be a real test for the bulls.

If they succeed in breaking out of this zone, a quick rally to $12,000 might take place, where it will again face resistance from the 50-day SMA and the resistance line of the descending channel.

Therefore, the traders can wait for a breakout above $9,500 to buy. The stop loss for the trade should be kept at $7,800. The profit objective is a move to $12,000.

And what if the BTC/USD pair fails to break out of $9,500 and turns down once again?

In this case, traders should wait, resisting the urge to buy at lower levels because if the price breaks below $7,800, we might see it go down to the $7,000 point.

We always provide both the bullish and bearish scenarios because the traders should be aware of what to expect in both cases. It would be irresponsible to provide levels only in one turn of events.   

[nicolas1979]

The cryptocurrency is finding buyers at lower levels who are using the sharp plunge in prices to buy for the long-term.
So, is the downtrend over or will the market resume its fall after a short pullback?

During a strong downtrend, a 1 to 3-day pullback can be expected. The counter-trend move usually faces selling at the 20-day EMA or at previous supports, which now act as resistance.
The BTC/USD pair is likely to face resistance at $9,500, which was the high on February 3. Above this, a move to $9,920 can’t be ruled out, but we expect the range of $9,920 to $10,700 to act as a strong resistance.

I believe that the cryptocurrency will turn down from one of the above-mentioned levels. If the retest of the lows is successful, i may add long positions for the long-term.

If the lows break, i’ll have to wait for a few more days.   

Nice analyze and I believe it's true, that's why I'll wait until March to buy back again. I'm not surprised with your analyze result because many people already say that but with different indicator and also history chart. The question is, can we patience to wait and also how to not lost faith when down trend happen?. Wait is boring and some people sometimes change their faith because they can't accept the situation. Any answer please ?

[malikusama]

Now bitcoin will grow!
All the news about the ban of mining in China, turned out to be the tricks of hackers who earned on the fall of the course!

You can not forbid something that you can not even hold in your hands 

Indeed you can't control what is not even in your hold but don't forget that the manipulators are always here to create dips, they are controlling in the real sense.
Not sure when it will going to grow again but after observing the market i am not expecting any further drop in price during this month.

[slothboy]

Chinese New Year coming. Wonder what's the history bitcoin price action during Chinese New Year