Bitcoin News

Bitcoin’s Bullish Price Action Continues to Bolster Rallies in FIL, OKB, VET and RPL

FIL, OKB, VET, and RPL may benefit from BTC’s shallow correction near $25,000.

Bitcoin pricing separated from the Dow Jones Industrial Average and is on course to conclude the week near $25,211. This indicates a significant crypto market comeback.

Analysts disagree on Bitcoin’s next move after its dramatic rebound. Some traders predict the current Bitcoin advance to reverse, while others expect it to continue into a new bull phase.

Bitcoin and other cryptocurrencies may rally until most bearish turn positive. Then a big drop is likely. That could shake out numerous weak hands and allow stronger hands to advance. Higher lows and highs may signify the end of the bear market and the start of the next bull market.

Some altcoins are strong and may follow Bitcoin higher.Bitcoin is trading near $25,211. The modest trading range days on Feb. 18 and 19 show that bulls are not rushing to book profits and bears are leery of shorting at current levels.

Bulls are in control due to upsloping moving averages and RSI reaching overbought. A tight consolidation near a strong overhead resistance usually resolves upward. BTC/USDT might reach $31,000 if buyers push the price beyond $25,250.

If the price falls, the 20-day exponential moving average ($23,115) may support it. To stop the bulls, bears must drop the price below $22,800. The pair may fall to $21,480, a strong support.

Bears aggressively dumped the rise to $25,250 but could not pull the price below the 20-EMA. Bulls are buying dips, indicating strong sentiment.

Buyers may retry the overhead resistance. If they can push the price above $25,250, the rally may continue.Breaking the 20-EMA indicates weakness. That will inspire bears to lower the price to $22,800.

Filecoin broke $7 on Feb. 17. Bulls intend to launch a new uptrend.On Feb. 19, bulls resumed the uptrend after a brief consolidation on Feb. 18. Bulls aggressively bought this rally. Little resistance at $9.53 is likely to be crossed.

FIL/USDT could target $11.39. If bulls can avoid a drop below $9.53, the rise may continue. Next resistance is $16.If the price drops below $7, this favorable outlook may change.

The four-hour chart reveals that the bears tried to block the up-move near $8, but the bulls kept the price above the breakout level of $7. Every dip is bought aggressively. The rally surged to $9.53.

Sellers may fight hard at this level, but the upsloping 20-EMA and overbought RSI signal that the path of least resistance is up. Bears must drop the price below $8 to stop the rally.OKB (OKB) has been hitting new highs for days while most cryptocurrencies are way below their all-time high. All-time highs indicate strength.

On Feb. 18, OKB/USDT fell, indicating profit booking above $58. Corrections normally last 3–5 days in a strong rise. Bulls will push the pair above $59 if the price rises from $50. If successful, the duo may reach $70.The pair may swiftly correct and retest $45. If buyers support this level, the pair may consolidate between $45 and $58 for several days. Bears must drop the price below $44 to win.

The four-hour chart shows buyers bought the decline to the 20-EMA but the comeback is weak. Despite rising moving averages, the RSI is bearish. Bullish momentum is waning. If the 20-EMA breaks, the pair might fall to $47.50 and $44.35.

If the price rises above $55, bulls may try again at $58.84, the all-time high. This level may restart the pair’s rise.VeChain withstood the downtrend line retest and broke over above resistance, suggesting the bears may be losing their hold.

Moving averages are rising and the RSI is reaching overbought. Bulls are ahead. If buyers turn $0.028 into support with the next drop, the VET/USDT pair may surge toward the next overhead resistance.

Buyers must guard this level because a break above it could signal a new rally. The couple may reach $0.05. If the price drops below the 20-day EMA ($0.025), this favorable outlook may be invalidated.

The bulls broke overhead resistance on the four-hour chart, signaling the start of the next uptrend. If bulls hold above the breakout level, the pair may soon advance to $0.032 and $0.034.

If the price falls below the 20-EMA, aggressive bulls may be trapped. Longs exiting could cause a deeper correction. The pair may drop to $0.022.

Rocket Pool (RPL) has been rising for days. Pullbacks have not breached the 20-day EMA ($45), indicating significant desire to buy at lower levels.

The inside-day candlestick pattern on Feb. 18 and 19 reveals that bears are trying to stall the uptrend near $56 but bulls are not willing to give up their advantage. RPL/USDT could reach $74 if buyers push the price beyond $57.

Downside support is $50. The 20-day EMA ($45) may be reached if this level breaks. Bulls must defend this level because a break below it could signify a short-term trend change.

The four-hour chart shows bulls holding the $56 level while bears fight to protect it. Buyers may be waiting for a break above overhead resistance. If so, the pair may soar to $61 and $74.

If the price falls below the 20-day EMA, the bulls have given up and are taking profits. That may cause a deeper decline to $38 and the 50-day simple moving average.


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