Bitcoin price has been consolidating above the $95,000 support after falling below the moving average lines. The lack of price movement last week resulted in doji candlesticks dominating the price action. The current price movement is consistent with doji candlesticks. Bitcoin's future price will depend on whether it can bounce back above the moving average lines or if it is rejected at the recent high. The price bars below the moving average lines suggest a possible decline in the cryptocurrency. The 4-hour chart shows a rise above the moving average lines. Important supply zones are at $108,000, $109,000, and $110,000, while important demand zones are at $90,000, $80,000, and $70,000. Bitcoin is currently in a sideways movement below the moving average lines, with strong selling pressure at the recent high. A long candlestick tail on February 3 indicates strong buying pressure at the $91,000 support. Bitcoin will continue to trade within its current range until a possible rebound or breakout occurs. As a disclaimer, this analysis and forecast are the personal opinions of the author and not a recommendation to buy or sell cryptocurrency. Readers should conduct their own research before investing.



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