Cryptocurrency news

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Lido Staked Ether (STETH) $ 2,265.05
Figure Heloc (FIGR_HELOC) $ 1.03
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LEO Token (LEO) $ 9.20
Hyperliquid (HYPE) $ 31.26
Wrapped Bitcoin (WBTC) $ 76,243.00
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Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.998762
Chainlink (LINK) $ 8.79
Wrapped Beacon ETH (WBETH) $ 2,466.93
Ethena USDe (USDE) $ 0.999811
Canton (CC) $ 0.157776
Stellar (XLM) $ 0.150837
Wrapped eETH (WEETH) $ 2,465.31
USD1 (USD1) $ 0.999552
Rain (RAIN) $ 0.009151
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Litecoin (LTC) $ 54.76
PayPal USD (PYUSD) $ 1.00
Coinbase Wrapped BTC (CBBTC) $ 76,366.00
Hedera (HBAR) $ 0.096852
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WETH (WETH) $ 2,268.37
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BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
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Global Dollar (USDG) $ 0.999940
Bittensor (TAO) $ 183.57
NEAR Protocol (NEAR) $ 1.35
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Kelp DAO Restaked ETH (RSETH) $ 2,404.69
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USDtb (USDTB) $ 1.00
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Aptos (APT) $ 0.999503
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Algorand (ALGO) $ 0.086024
Function FBTC (FBTC) $ 76,389.00
Filecoin (FIL) $ 0.999018
OUSG (OUSG) $ 114.47
Janus Henderson Anemoy AAA CLO Fund (JAAA) $ 1.03
XDC Network (XDC) $ 0.036025
USDD (USDD) $ 1.00
syrupUSDT (SYRUPUSDT) $ 1.11
Render (RENDER) $ 1.34
Jupiter (JUP) $ 0.178065
Arbitrum (ARB) $ 0.102885
Binance Staked SOL (BNSOL) $ 108.24
Stable (STABLE) $ 0.029738
VeChain (VET) $ 0.007106
Beldex (BDX) $ 0.079321
YLDS (YLDS) $ 0.999913
Janus Henderson Anemoy Treasury Fund (JTRSY) $ 1.10
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DoubleZero (2Z) $ 0.072791

Bitcoin Price Slides Sideways On Reaching The $99,000 Line

By admin On Feb 22, 2025

Bitcoin (BTC) has risen above the moving average lines and the $95,000 support level but is being held back by the 50-day SMA barrier.

Bitcoin price long-term forecast: bearish

Bitcoin price is currently below the 50-day SMA barrier and above the 21-day SMA support. BTC will reach a high of $102,390 if it breaks above the 50-day SMA. However, Bitcoin will be forced to move in a range between the moving average lines if it gets stuck at the 50-day SMA.

On the other hand, if the bears break below the 21-day SMA, Bitcoin would fall back to its previous range between $94,000 and below the moving average lines.

Currently, Bitcoin is trying to break above the 50-day SMA and has resumed its uptrend. The price of Bitcoin is at $96,736.

Analysis of the Bitcoin price indicators

According to the analysis by Coinidol.com, after Bitcoin broke through the moving average lines, it has recovered. Before the breakout, the cryptocurrency was initially trapped between the moving average lines. If the 50-day SMA support holds, Bitcoin will rise again. The price bars are above the moving average lines on the upside, indicating a rise.

Technical indicators

Key supply zones: $108,000, $109,000, $110,000

Key demand zones: $90,000, $80,000, $70,000

What is the next move for Bitcoin?

Bitcoin has continued its uptrend after entering the uptrend zone. Bitcoin will start to rise again if the 50-day SMA support holds.

However, if the bulls are unable to sustain their bullish momentum above the 50-day SMA, Bitcoin will move between the moving average lines.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.

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