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Bitcoin price analysis: BTCUSD recovering from recent losses

Bitcoin price analysis: BTCUSD recovering from recent losses

February 25, OctaFX – Bitcoin is falling towards major weekly support at the start of the new trading week after buyers failed to rally the BTCUSD pair above the psychological $4,100 resistance level.

BTCUSD price analysis: Bitcoin might come under selling pressure

If sellers break the $3,700 support level, the BTCUSD pair is likely to come under further selling pressure towards the $3,550 level. If bulls can defend the $3,700 technical level, a strong rebound back towards the $4,000 level appears the most likely scenario.

  • The BTCUSD pair is only bullish while trading above the $3,700 level, key technical resistance is found at the $4,000 and $4,100 levels.
  • If the BTCUSD pair trades below the $3,700 level, key support is found at the $3,550 and $3,330 levels.

Disclaimer

This article was provided by OctaFX. It should NOT 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.

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