BTC price needs to close February above 50-month trend line — analysis
A key Bitcoin battleground forms the backdrop for the end of the month amid a warning that BTC price action "doesn't feel bullish." Bitcoin (BTC) faced a showdown with a key trend line on Feb. 28 as the month ly close finally arrived. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin "doesn't feel bullish" into February close Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling an area around $23,500 at the Wall Street open. With United States stocks flat and the U.S. dollar avoiding a return to strength, eyes were on Bitcoin to preserve its gains through last-minute volatility. “Would like to see more Bitcoin bid liquidity enter the active trading range to increase the chances of closing the Monthly candle above the 50-Month Moving Average,” monitoring resource Material Indicators wrote in one of several Twitter posts on the day. “Volume has been weak, so at this stage doesn't feel bullish.” An accompanying c