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Home Market & Analysis

Bitcoin Price Edges Higher But Remains Stuck In a Tight Zone

n70products by n70products
February 22, 2025
in Market & Analysis
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Bitcoin Price Edges Higher But Remains Stuck In a Tight Zone
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Bitcoin value began a restoration wave above the $94,500 zone. BTC is rising inside a variety and may revisit the $98,000 resistance zone.

  • Bitcoin began an honest restoration wave above the $95,500 zone.
  • The value is buying and selling above $96,000 and the 100 hourly Easy shifting common.
  • There was a break above a key bearish development line with resistance at $96,700 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
  • The pair may begin one other improve if it stays above the $96,000 zone.

Bitcoin Value Get well Losses

Bitcoin value fashioned a base above the $93,500 degree and began a recovery wave. BTC was in a position to surpass the $94,000 and $94,200 resistance ranges.

There was a transfer above the 50% Fib retracement degree of the downward transfer from the $98,825 swing excessive to the $93,288 low. Apart from, there was a break above a key bearish development line with resistance at $96,700 on the hourly chart of the BTC/USD pair.

The pair even surpassed the $96,500 degree and now faces hurdles close to the $96,800 zone. Bitcoin value is now buying and selling above $96,200 and the 100 hourly Simple moving average.

On the upside, speedy resistance is close to the $96,800 degree or the 61.8% Fib retracement degree of the downward transfer from the $98,825 swing excessive to the $93,288 low. The primary key resistance is close to the $97,200 degree. The following key resistance may very well be $98,000.

Bitcoin Price
Supply: BTCUSD on TradingView.com

An in depth above the $98,000 resistance may ship the value additional larger. Within the said case, the value may rise and check the $98,800 resistance degree. Any extra features may ship the value towards the $99,500 degree and even $100,000.

One other Decline In BTC?

If Bitcoin fails to rise above the $97,000 resistance zone, it may begin a recent decline. Speedy help on the draw back is close to the $96,100 degree. The primary main help is close to the $96,000 degree.

The following help is now close to the $95,500 zone. Any extra losses may ship the value towards the $94,200 help within the close to time period. The principle help sits at $93,400.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now above the 50 degree.

Main Assist Ranges – $96,100, adopted by $96,000.

Main Resistance Ranges – $97,000 and $98,000.



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