The article discusses the current state of Bitcoin's price and technical indicators. Bitcoin is currently trading between $95,850 and $96,234, and its valuation stands at $1.917 trillion. The hourly chart shows some price stabilization but with modest declines near resistance levels. The RSI suggests equilibrium, while the MACD indicates bearish tendencies. The CCI flashes a buy alert, implying temporary undervaluation, and the momentum oscillator leans towards optimism. However, buyers are hesitant to engage at current prices. On the four-hour chart, there is growing pessimism with sell signals from moving averages and resistance near $98,500-$99,000. Key support is at $95,500-$96,000, and a breach could lead to steeper declines towards $94,000. The daily analysis shows a retracement from Bitcoin's last price high, with resistance at $109,000-$110,000 and support at $89,164. Sell-side activity suggests downward momentum unless Bitcoin breaks above $100,000. The article concludes that the trajectory of Bitcoin is uncertain, and a breakout above $98,500-$100,000 could pave the way for a push towards $105,000-$109,000, while a breakdown below $94,000 could lead to further declines.
Content Editor ( news.bitcoin.com )
- 2025-02-07
Bitcoin Price Analysis: Rollercoaster Fluctuations as Key Support Faces Ultimate Test
