Autor Cointelegraph By Jordan Finneseth

The waiting game continues for crypto traders after Bitcoin (BTC) is once again pinned below resistance at $43,000 and awaiting some spark in momentum that can sustain a rally back to the $50,000 range. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin has traded in a range between $41,500 and $43,000 over the past couple of days and with tensions between Ukraine and Russia escalating, many traders are less than optimistic about Bitcoin’s short-term prospects.BTC/USDT 1-day chart. Source: TradingViewHere’s a look at what analysts are saying about their short-term expectations for Bitcoin price.Is Bitcoin on a path to zero?Well-known cryptocurrency perma-bear Peter Schiff made sure to chime in on the latest struggles for Bitcoin by posting the following chart pointing to a double top on BTC as a sign that the digital asset is set to drop to $0.BTC/USD 1-week chart. Source: TwitterSchiff asked followers to “imagine how bad this chart will look once Bitcoin breaks below $30,000,” and he direly predicted that “If this double top completes, the real floor is zero!”Schiff said, “A drop to $10,000 would seem like a lock, but there’s no reason to believe that level would hold up as a permanent floor.”A more in-depth read on the current chart formation was provided by crypto analyst and pseudonymous Twitter user TechDev, who posted the following chart, which divides the “year-long BTC range” into two-week-long sub-ranges. BTC/USD 2-week chart. Source: TwitterTechDev said, “Closing outside one has granted weeks of price action in the next. Yesterday’s 2W close above $40,000 suggests the previous close was a deviation. Current 2W key in determining which sub-range we’ll be spending the next few weeks.”“Bullish crossover happening now”Evidence that the price of Bitcoin could soon start heading higher was noted by market analyst Caleb Franzen, who posted the following chart looking at the daily candles for BTC since October 2020.BTC/USD 1-day chart. Source: TwitterFranzen said, “The red & white indicators use linear regression analysis to measure the slope of the regression on different time frames (slow vs. fast). Crossovers are bullish/bearish depending on the direction. Bullish crossover happening now…”Related: Bitcoin kisses 50-day moving average as trader predicts fresh BTC price volatilityWas the dip below $40,000 a bear trap?The recent dip in BTC price below support at $40,000 was addressed by crypto trader and pseudonymous Twitter user Phoenix, who posted the following chart suggesting the dip was a deviation designed to “suck in traders on the wrong side” and “trap breakout traders” by making them “load higher/lower targets.”BTC/USD 1-day chart. Source: TwitterPhoenix said, “History doesn’t repeat, but it often rhymes. Chances are there that this was just another deviation. At least the sentiment matched near the lows, that’s for sure.”The overall cryptocurrency market cap now stands at $1.892 trillion and Bitcoin’s dominance rate is 42.5%.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The price action for Bitcoin (BTC) continues to tantalize investors and once again, concerns over the state of the global economy and rising inflation have prompted warnings that the Fed’s upcoming interest rate hikes could do more damage then good to the state of the market.Data from Cointelegraph Markets Pro and TradingView shows that the price of BTC has hovered near the $43,000 support level in trading on Feb. 11 after rallying 20% from the $37,000 leve over the past week. BTC/USDT 1-day chart. Source: TradingViewHere’s a look at what analysts expect next for BTC and the wider cryptocurrency market.“Expecting a move to $40,000”Insight into the bullish and bearish scenarios related to Bitcoin price was offered by crypto trader and pseudonymous Twitter analyst ‘Crypto_Ed_NL’, who posted the following chart outlining two possible BTC price trajectories. BTC/USDT 4-hour chart. Source: TwitterCrypto_Ed_NL said, “Checking my latest chart with the current situation. Nothing changed. Expecting a move towards $40,000. Bullish scenario indicates a bounce to $48,000. Bearish comes in play when we break $40,000.”A confluence of resistance levels for BTCBitcoin now finds itself trading in an increasingly tighter rage at these current levels in large part due to “the sharp $12,000 move off the lows” of Feb. 4, according to a recent report from Delphi Digital, which noted that BTC is now “heading into resistance on multiple timeframes.”As the price action for BTC heads toward a confluence of daily, weekly and monthly resistance, Delphi analysts suggests that “market participants of all kinds will be looking at this as a potential price ceiling” and that it represents “a logical place to expect profit-taking/risk reduction activity due to the confluence of resistance zones and the speed and magnitude of the move off recent lows.”BTC/USD 8-hour chart. Source: Delphi DigitalAs for the key areas to keep an eye on moving forward, Delphi highlighted a significant amount of support for BTC in the $40,000 to $41,000 range with the next level of support below that at $38,500. When it comes to the possibility of a move higher for BTC, Delphi Digital listed the zone from $46,000 to $48,000 as a heavy resistance area. The report noted that, “This is the daily, weekly and monthly supply zones that will likely be a heavy level of resistance. Above this level and we likely see a squeeze towards $50,000.”On a positive note, Delphi also highlighted the recent uptick in institutional flows over the past couple of weeks “as the market started to stage a comeback.” Monthly fund flows for select digital asset investment product groups. Source: Delphi DigitalAccording to Delphi Digital, Grayscale is the biggest player in the institutional game with “roughly 65% of Institutional AUM,” but there are signs emerging that sentiment is beginning to shift. Delphi Digital said, “Excluding BTC and ETH, Binance Coin (BNB), and BNB-based products, have continued to attract the most AUM, but institutional sentiment is starting to favor alternative names like SOL.”Related: Bitcoin stuck in a tight range as BTC price moving averages prepare key bullish crossBulls could exploit this classic trading patternA final bullish perspective for BTC moving forward was offered by crypto analyst and pseudonymous Twitter user ‘IamCryptoWolf’, who posted the following chart outlining one possible Bitcoin price trajectory.BTC/USD 1-day chart. Source: TwitterIamCryptoWolf said, “Everyone calling for $46,000, what if $50K — > $46K — > $60K, printing an inverse head and shoulders?”The overall cryptocurrency market cap now stands at $1.97 trillion and Bitcoin’s dominance rate is 41.9%.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.