Bitcoin Price Prediction: BTC Rallies, Surges Past $40,000 And Moves To $44,000 

Daily Bitcoin BTC Technical Analysis

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Last Updated March 2nd 2022
3 Min Read
  • The Bitcoin price pushed past $44,000 during the current session and is presently up by over 2%. 
  • BTC was incredibly bullish on Monday, surging by over 14% and moving above $40,000.

The Bitcoin price has been extremely bullish over the past couple of sessions despite the turmoil prevailing in the world, with experts attributing its rise to crypto emerging as an alternative to the current financial system. BTC was fairly positive on Friday, rising by 2.51% and moving to $39,234. However, BTC fell back over the weekend, registering a marginal drop on Saturday and then falling by nearly 4% on Sunday, ending the weekend at $37,741. On Monday, BTC surged by over 14%, kicking off the week to a strong start and moving to $43,171, and then pushing past $44,000 during the ongoing session. 

Bitcoin Price Chart Indicates BTC Could Push Above $45,000 

The Bitcoin price started the previous weekend fairly muted, registering a marginal increase on Saturday. Sunday saw the price in the red as BTC dropped by over 4% and settled at $38,384. Monday saw BTC continue to drop, falling by 3.46% to $37,056 before recovering on Tuesday, rising by over 3% and moving to $38,262. BTC fell back on Wednesday, falling by nearly 3% and settling at $37,260 before recovering on Thursday, rising by nearly 3% to $38,272 after a highly volatile session.

Image: BTC/USD daily

BTC/USD daily chart 030222

The Bitcoin price continued to push higher on Friday, pushing up by 2.51% and moving to $39,234. The price fell back over the weekend, as BTC registered a marginal drop on Saturday, before dropping by nearly 4% on Sunday, ending the weekend on a bearish note at $37,741. The current week started with BTC registering a strong increase on Monday, pushing above the 20 and 50-day SMAs and the $40,000 level, moving to $43,171, and going past the $44,000 during the ongoing session.

We can see that the MACD is currently bullish, indicating that we could see the price push higher.

Looking at IntoTheBlock’s IOMAP for the Bitcoin price, we can see that BTC has strong support at around $38,451. At this price level, over 1.5 million addresses have bought more than 1.2 million BTC. BTC also faces strong resistance at around $48,955, where over 1.8 million addresses have sold 1 million BTC.

More On Bitcoin: Is Bitcoin (BTC) a Good Buy?

Image: IntoTheBlock

BTC/USD volume chart 030222

The 4-hour Bitcoin price chart shows us that BTC had dropped to $34,977 on the 24th. BTC made a strong recovery from this level, surging past the 20-bar SMA and moving to $38,959. At this level, the 50-bar SMA acted as resistance and pushed the price down marginally before BTC broke past this level, rising to $39,439 on the 25th, With the 200-bar SMA acting as resistance and the 50-bar SMA acting as support. BTC was able to stay at this level for the subsequent few sessions before registering a drastic fall on the 27th, dropping below the 20 and 50-bar SMAs and falling to $37,766. BTC surged again, registering a strong increase from this level, moving past all three SMAs and rising to $40,859 before moving to its current level of $44,143.

We can see that the MACD and Parabolic SAR are both bullish, indicating that we could see the price push higher.

Image: BTC/USD 4-hour

BTC/USD 4-hour chart 030222

Bitcoin Price Is Expected To Reach These Levels

Looking at the Bitcoin price chart, we see that BTC has been incredibly bullish during the current week and has surged past $44,000. If the current sentiment persists, we could see BTC push past $45,000.

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