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THORChain 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.