BTC Price Prediction: Today’s Bitcoin Price, 27th Feb 2023
During the Asian trading session, the cryptocurrency market was fairly stable, with BTC keeping a price of around $23,000 and ETH returning above $1,550. As market participants get ready for a busy week, popular cryptocurrencies like Bitcoin and Ethereum are currently trading within narrow price bands as a result of the absence of volatility.
BTC Price Prediction
Currently, Bitcoin is trading at around $23,000, up 0.50% from the day before, and with an $18 billion 24-hour trading rate. In the event that the BTC/USD combination breaks below the $22,800 immediate support level for Bitcoin, the price of BTC may be exposed to the next support area at the $22,150 level.
Given that Bitcoin has finished a 61.8% Fibonacci retracement in the 4-hour time period at the $22,800 level, a closure above this level could start an uptrend in BTC.
Today’s Bitcoin Price
The nearby $23,500 resistance level for Bitcoin continues to serve as a roadblock on the upside. However, given that the BTC/USD pair has entered oversold territory, there is a possibility that BTC will rebound and rise above the resistance mark at $23,500, pushing the cost of the cryptocurrency to $24,250.