• Bitcoin (BTC) price prediction for today, February 6th shows that BTC may break out of the current short-term pattern and move towards the $23,500 level.
• If successful, BTC/USD could aim at the resistance levels of $28,000, $30,000, and $32,000 respectively.
• Alternatively, Bitcoin (BTC) may reclaim the previous resistance level of $24,000 to head to the upside.
Bitcoin Price Prediction for Today
The Bitcoin price prediction reveals that BTC may break out of the current short-term pattern and move toward the $23,500 level. If successful in its attempt to reach this level then BTC/USD could aim at higher resistance levels including $28K, $30K and even up to $32K. On the other hand if it fails then it might try to reclaim its previous resistance level at around 24K before heading further north.
Technical Indicators
The technical indicator Relative Strength Index (14) is moving above the 60-level as the coin may consolidate around this level. Moreover there is a little bit of bullish divergence as it crosses above its 9-day moving average which could mean more bullish momentum for BTC/USD in coming days.
Support Levels
If Bitcoin breaks below its support level of 23K then it might face further downside pressure with support levels located at 20K 18K and even 16K respectively.
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