• Bitcoin is trading above the $21,700 support.
• The Relative Strength Index level 47 for period 14 remained constant the previous day.
• A defect in the Bitcoin logo on its original artwork was found after 12 years of existence.
Bitcoin Price Consolidates Above $21.7K
The BTC price has been stable above the $21,700 support for a potential gain. Doji candlesticks show a lack of consensus amongst buyers and sellers over the market’s direction and currently, Bitcoin is pinned between the moving average lines. The rising movement of the crypto depends on breaking through the 21-day line SMA and if Bitcoin breaches this barrier at $23,000, a bullish trend will resume.
Relative Strength Index Level Remains Constant
The Relative Strength Index (RSI) level 47 for period 14 remained constant at yesterday’s close. This indicates that selling pressure has reached bearish exhaustion and Bitcoin is now range-bound between the moving average lines until it breaks out of this range with a push to either side.
Defect Found in Original Bitcoin Logo Artwork
After 12 years since its inception, investors have zoomed in to find a little orange line from the background into white-colored space within the original artwork representing Bitcoin logo. It serves as an important reminder that many people had played their part in making Satoshi Nakamoto’s idea turn into reality such as miners, developers, designers, holders and investors who contributed to it without expecting anything in return.
Future Predictions for BTC Price
If price moves back below 50-day SMA then decline will restart and eventually surpass psychological price threshold at $20,000 mark. On contrary if BTC breaches barrier at $23K or 21-day line SMA then bullish trend will resume again pushing prices higher from current levels with targets set at $50K, 55K & 60K marks as resistance levels respectively while 25K 20K & 15K marks act as support levels respectively ahead of future price action movements for BTC prices today & beyond February 12th 2023 dateline..
Conclusion
Bitcoin is currently trading above its key support level of $21k with RSI level remaining constant indicating bears reaching exhaustion soon enough before bulls take charge pushing prices once again higher towards upper resistance levels near 50k while any downside break below current supports could see prices tanking down towards lower supports near 15k mark before next major upside rally can take place again giving investors opportunity to capitalize on both bull & bear runs alike with long term HODLers reaping maximum benefits over time frame ahead..
