Bitcoin, the world’s biggest cryptocurrency, has been quite bearish in recent days, much attributed to the stock market crash and hyperinflation. It is also to be noted that the world’s biggest cryptocurrency fell below $42K, as per BTC price analysis for Feb 14, 2022. Moreover, the token has failed to break above a major resistance level that is present at the $45K-$48K price zone.
On the other hand, the data from CoinMarketCap shows that the trading volume of BTC rose 41.36% in the last 24 hours, followed by a 4.39% rise in the market cap. Moreover, the Market Dominance of the token currently rests at 42.41%, while the Volume / Market Cap Ratio has a value of 0.02702.
It can be expected that the token will make a new all-time high this year. The daily candle began at a price of $42.5K and reached a daily high of $43.7K. On the other hand, the daily low for the token is $42.2K, while the price of 1 Bitcoin at the time of writing is $43.5K.
Bitcoin price analysis on the daily chart
Bitcoin price analysis on the daily chart shows that the world’s biggest cryptocurrency aims to break into an uptrend in the near future. The RSI has turned positive, which means that higher prices are definitely possible.
The MACD indicator shows that the MACD line (blue) continues to progress above the signal line (orange), which is a bullish scenario. The MACD histogram is also bullish with green bars.
The price action for Bitcoin once again attempts to break out from the upper end of the Bollinger Bands, which means that bulls are once again in control.
Bitcoin price analysis on the daily chart for Feb 15 can be concluded on a bullish note as the token aims to break above the important price resistance of $45K. Investors are advised to HODL.