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Bitcoin Price Prediction | 5 February 2022 | BTC Market Update

Bitcoin Price Prediction | 5 February 2022 | BTC Market Update

Kavya Barua

Kavya Barua is a voracious learner captivated by crypto and Fintech breakthroughs. Graduated from the University of Delhi's B.A (Hons) English program at Janki Devi Memorial College. She desires to be a successful professional with a strong interest in learning and accomplishing outcomes.

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The Bitcoin Price Prediction 2022 has grown into a significant asset class (rewarding many investors with significant financial gains); the trend is also being driven by increased conjecture that cryptocurrency is the “must catch” wave of the future.

Let’s Examine Bitcoin’s Technical Movement:

Bitcoin Price Prediction 2022

Bitcoin hit its highest in two weeks on Saturday; extending the previous session’s strong gains as cryptocurrencies basked in a recovery in risk appetite and a rally in stock markets. Friday’s 11 percent-plus was the biggest single-day gain for Bitcoin since mid-June; and the first major bounce after weeks of being roiled.

BTC has broken the major trendline currently BTC price seems to be bullish as RSI crossed the 50 level 

Bitcoin bounced off the minor support at $36,155.01 and the bulls have pushed the price above the overhead resistance zone between the 20-day exponential moving average (EMA) ($38,974) and $39,600.

Bitcoin Price Prediction | 5 February 2022 | BTC Market Update image | BuyUcoin
@priya

If the price sustains above $40,600, buying could pick up momentum and the BTC/USDT pair could rally to the 50-day simple moving average (SMA) ($43,021). The bulls will have to clear this hurdle to signal a possible change in trend.

Contrary to this assumption, if the price turns down from the current level, it will suggest that bears continue to sell on rallies. A break and close below $36,155 could clear the path for a retest of the Jan. 24 intraday low at $32,917.17.

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