Happy Monday, dear traders! Today we bring you a famous cryptocurrency pair’s technical analysis and trading signal. Yes, you guessed it right: BTCUSD. So, let’s dive into the analysis.
BTCUSD Technical Analysis & Signal for Today February 10, 2025 by Guriforex:
Bitcoin (BTCUSD) is currently testing a critical downtrend resistance level, and traders are closely watching for a potential bullish breakout. If BTC manages to break above the descending trendline and the fractal resistance, we could see further upside movement towards key price targets.
📊 BTCUSD Market Insights: Why Bitcoin Can Rally?
Trendline Resistance in Focus:
BTCUSD has been in a downward correction, but now, price action suggests a possible reversal. A breakout above $97,000 could trigger renewed bullish momentum.
Institutional Accumulation:
Large-scale Bitcoin holders (whales) have been accumulating BTC during the recent dip, indicating confidence in future price increases.
Market Sentiment & Fundamentals:
- The Bitcoin ETF demand continues to fuel institutional interest.
- The upcoming halving event in 2024 is expected to reduce supply, historically leading to bullish price action.
- Macroeconomic factors such as inflation concerns and Federal Reserve policy shifts could further support Bitcoin’s role as a hedge asset.
📈 Bitcoin Technical Analysis – Key Breakout Levels!
Trendline Breakout: BTC is approaching the descending trendline; a breakout above $97,000 could signal a strong bullish move.
Fractal Resistance Test: If Bitcoin successfully surpasses the fractal structure, further bullish confirmation will be in place.
Key Support Zone: The $92,000 – $94,000 region has been acting as a strong support base, preventing deeper declines.
Trade Idea – Bitcoin Long Setup!
📌 Entry: Buy BTCUSD above $97,000 (trendline breakout confirmation)
🎯 Target 1: $99,000 (first major resistance zone)
🎯 Target 2: $102,000 (higher resistance level)
🔴 Stop-loss: Below $96,000 (to mitigate false breakouts)
🚀 What’s Next for Bitcoin?
Traders are eyeing $97,000 as a crucial breakout level. If BTCUSD confirms the bullish breakout, it could quickly rally towards $102,000. However, a failure to break above resistance might lead to further consolidation.
Do you think BTC will break out? Smash ❤️❤️❤️ in the comment if you’re bullish on Bitcoin! 🚀