Bitcoin (BTC) Price Analysis for February 18

Bulls are not giving up even on the weekend, according to CoinMarketCap’s ranking.

BTC/USD

Bitcoin (BTC) has gained a lot of value today, rising by 3.89%.

On the hourly chart, the price of Bitcoin (BTC) has bounced back from the support level of $24,453 and is now on the way to the recently formed resistance at $24,677. If buyers can hold the gained initiative, the growth may continue to the $24,800 zone.

On the daily time frame, the price of Bitcoin (BTC) is in the middle of the narrow channel between the support at $24,258 and the resistance at $25,270.

Any sharp moves are unlikely on the weekend, and the more likely scenario is sideways trading in the area of $24,500-$25,000.

On the weekly chart, the price has made a false breakout of the resistance at $25,212. However, one should focus on the candle’s closure. If it happens near the $25,000 mark or even above, the growth may continue to the $26,000 mark next week.

Bitcoin is trading at $24,591 at press time.

Source