The content provides a technical analysis of Bitcoin's price movement on various time charts, including the 1-hour, 4-hour, and daily charts. It suggests that Bitcoin is experiencing short-term bearish pressure, with resistance forming around $98,000-$100,000 and support around $95,500-$96,000. The analysis also indicates declining volume and bearish signals from indicators such as the MACD and momentum, suggesting further downside risk. However, the presence of long-term support from the 100- and 200-period moving averages may provide a potential rebound and a potential test of the $106,000-$109,000 resistance zone if bullish momentum strengthens.
Content Editor ( news.bitcoin.com )
- 2025-02-09
Bitcoin Price Analysis: Short-Term Pain or Long-Term Gain? Traders on Edge
