Bitcoin (BTC) Price Prediction for February 20

Cryptocurrencies need time to accumulate more energy for a further move, according to CoinStats.

BTC/USD

The price of Bitcoin (BTC) is almost unchanged since yesterday, according to CoinStats.

On the hourly chart, the rate of BTC is rising after a false breakout of the local support level of $51,510.

If buyers hold the initiative and keep the price above $52,000 until the end of the day, there is a possibility to see a resistance breakout tomorrow.

On the daily time frame, the situation is also bullish. The rate of has come back to the $52.393 level. If the bar closes near it, one can expect an upward move to the $53,000 zone until the end of the week.

On the weekly chart, the price is on its way to testing the previous candle peak of $52,884. If the growth continues, there is a possibility to see a test of the $54,000-$55,000 area soon.

Bitcoin is trading at $52,287 at press time.

Source