Price Predictions: Bitcoin and Ethereum 23 February 2022

Bitcoin’s price has just dropped, taking it to the $36,398 to $38,895 demand zone, with a probable comeback.
The price of Ethereum is also rebounding from a similar support level, and a retest of $3,200 is expected.

After collapsing in the third week of February, the price of bitcoin has suffered a setback. This downturn also impacted Ethereum and other cryptocurrencies. However, BTC appears to be prepared for a rapid run-up in order to recoup some of the losses.

Bitcoin price eyes reversal

Bitcoin is now trading around the $36,398 to $38,895 demand range, signaling that a rebound rally is on the horizon. Assuming BTC bulls can find the necessary vigor, the advance will retest the $42,748 resistance level, implying a 12 percent increase.

In rare situations, Bitcoin’s price may rise over this level and reach the bottom limit of the weekly supply zone at $45,550

Regardless of the optimism, a daily candlestick close below $36,3698 will result in a lower bottom and undermine the bullish argument.

The rise in the price of Ethereum is still limited

The price of Ethereum is now ricocheting off the daily demand zone, ranging…