Bitcoin forecast - BTC price is preparing to increase by $42,000

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On February 23-24, the cryptocurrency market resisted. Bitcoin trading volumes have increased. On or about January 22-24, sellers attacked the $34,000 range. However, this initiative was suppressed.

An important fact is that the sellers failed to update the local low from January 24 in the increased volumes of bidding. Given the fact of negative news, the Bitcoin market has survived. This means that buyers are ready to form a new wave of growth with the first goal of $42,000.

Another local confirmation of this fact will be the retest of the $36,000 mark. If in the coming days we see a light touch of sellers to the range of $36,000 it will be a good signal to enter the long position.

If the first growth target is $42,000, the final one is around $46,000.

We will consider an alternative scenario if the price of Bitcoin remains below $34,000.