Bitcoin Price Weekly Update: 22nd February – 28th February 2021

True strength has been shown to the world in the previous week as bitcoin price skyrocketed to the moon indeed. It’s still unbelievable how the markets broke the roof to the moon.
This week we expect more climbs though there are so many uncertainties towards this expectation.
The sellers seem to be touching at $58,000 letting the price to plunge to $50,133. Yesterday, bitcoin price dropped below $49,000 and then got a push back by the buyers back to $53,000.
The MACD has crossed to the oversold region, but we are yet to confirm if it’s a complete reversal of the trend or just a little pullback.
It’s necessary we wait to see how the market will trend next with a MACD cross or the break of the present support at $50,767.


Looking at the technical indicators:

• • Major Support Level – $50,767
  • Major Resistance Level – $58,000

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If you have any questions, leave them in the comment section below. Disclaimer: This article is in no way a financial advisor for your trading. Any action taken in this regard is done at your own risk. Nigerian Bitcoin Community is not liable for any loss or gain as a result of the application of this content. We advise you to do your own research.