BTC Price Drops Below $23,500: What’s Next?

• Bitcoin price prediction for today, February 22 reveals that BTC is yet to gain strength above the resistance level of $25,000.
• If bulls fail to push the coin higher, BTC/USD could experience another drop below $23,500.
• The technical indicator Relative Strength Index (14) suggests sideways movement and a possible break above the upper boundary of the channel could lead to gains towards $28,000.

Bitcoin Price Prediction

The Bitcoin price prediction for today, February 22 reveals that BTC is yet to gain strength above the resistance level of $25,000 as the coin ranges. At the opening of today’s trading; the king coin touches the resistance level of $24,495 but begins to bring the coin below the 9-day moving average. If bulls fail to push the coin higher; BTC/USD could experience another drop below $23,500.

BTC Could Head South

If there are more losses in terms of prices; Bitcoin may head toward its lower boundary and break major supports at $21,000, $20,000 and $19,000. The Relative Strength Index (14) moves around 40-level suggesting sideways movement. On other hand if buyers reinforce their positions and power up; it could lead to gains towards levels like$28,000-$30 000.

Trading Ranges

According to 4-hour chart; Bitcoin may gain lost momentum if coins move above upper boundary of channel. Volatility still hovers around selling pressure which might take coin further down with possible break below lower boundary leading it towards$22 000 or even lower levels.

Upside Gains Potential

If buyers can maintain their momentum they may be able to cause an upside potential which can cause a clear break above this barrier leading coin towards resistance levels such as$28 000-$30 000 . Meanwhile if sellers succeed in their attempts then they may be able to take control over prices causing them go further down reaching major supports at$21 000 ,$20 000 &$19 000 respectively .

Conclusion

To sum up this article ; Bitcoin price prediction for today ,February 22 reveals that BTC is yet to gain strength above major resistances with possible drops below$23 500 . Technical indicators suggest sideways movements with possibility of upsides leads if buyers manage hold on . Similarly , downside leads are also possible if sellers manage increase their pressure .