Bitcoin price is coming under increasing selling pressure after the number one cryptocurrency was strongly rejected from the $4,000 level. Are further losses to be expected? The following technical prediction will reveal.
February 27, OctaFX – Technical indicators on the four-hour time are still turning lower, which may signal further losses ahead for the BTCUSD pair. Traders should note that the BTCUSD pair will only turn short-term bearish if price trades below the $3,700 level.
Bitcoin price technical prediction
The BTCUSD pair is bullish while trading above the $3,700 level, key technical resistance is now found at the $4,000 and $4,300 levels.
If the BTCUSD pair trades below the $3,700 level, key support is found at the $3,550 and $3,330 levels.
This article, Bitcoin price technical prediction 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.