BTCUSD Price Fundamental Forecast


Welcome to this updated analysis on BTCUSD! Let’s jump right in! Looking at the 23 February BTCUSD Price Fundamental Forecast – At the moment, how is the BTCUSD trading?

23 February, OctaFX – The overall cryptocurrency market continued to recover from the price-lows made at the beginning of February, with Bitcoin, Ethereum, Litecoin and Ripple leading the advance higher in the digital currency space. The BTCUSD pair moved to levels not seen since late January, with price-action eventually setting a new monthly trading-high well above the $11,000 level.

Litecoin briefly traded back above the $250 mark on strong technical buying amidst the Litecoin Cash hard fork, whilst Ethereum fell just short of the $1,000 level before turning lower on mild profit-taking.

23 February BTCUSD Price Fundamental Forecast

  • The BTCUSD pair remains bullish while trading above the $10,050 level, further buying towards $11,800 and $13,500 seems likely.
  • Should price-action on the BTCUSD pair move below the $10,050 level, further losses towards $8,800 and $7,200 remain possible.

Disclaimer

This article about 23 February BTCUSD Price Fundamental Forecast was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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