Fun

Bitcoin Finds Price Stability: Reclaiming $101,000 Depends On This Level

News Feed - 2025-02-13 02:02:11

Este artículo también está disponible en español.


Bitcoin (BTC) continues to move within its one-week range after recovering from its recent drop to $91,000 but has failed to reclaim support above the $98,000 mark. Some analysts consider that BTC’s sentiment will remain neutral while it regains this support zone and builds up momentum toward a new high. Related Reading Ethereum Holds ‘Bounce Or Die’ Level: Rebound To $4,000 Could Be Near 1 day ago Bitcoin Price Stability Could Lead To $101K Reclaim


Following the start-of-February market correction, Bitcoin has been moving within the $96,000-$99,000 price range. The flagship cryptocurrency has recovered from its momentary fall to $91,000 and found support within its one-week range, only dropping 2% during this Sunday’s market retrace.


The largest cryptocurrency has been hovering between $90,000 and $108,000 since the US Elections pump, moving in the mid-zone of its four-month price range for most of this period.


Crypto analyst Rekt Capital pointed out Bitcoin’s positive performance, as it “continues to enjoy price stability” above a diagonal trendline support, a previous one-month downtrend line, broken during the latest all-time high (ATH) breakout. Bitcoin holds a diagonal uptrend line. Source: Rekt Capital on X


Since the DeepSeek-triggered correction, Bitcoin recorded price advances “that have been quickly getting canceled out, as evidenced by the recent upside wicks.” However, BTC’s price continued to hold the diagonal trendline as support over the week, which is necessary to build further momentum.


According to the analyst, “As long as it continues to hold, the price will be positioned for a revisit of $101k over time.”


After its most recent price action, BTC needs to reclaim the $97,700 mark to “build on this reversal with additional follow-through.” To achieve this, the flagship cryptocurrency must print a daily close above this level and reclaim it as support to build on its momentum toward the $101,000 resistance. BTC Remain Bullish in Higher Timeframes


Daan Crypto Trades highlighted BTC’s range hasn’t changed, as it continues to move sideways while many altcoins have been losing ground. According to the X post, Bitcoin is consolidating while attempting a breakout on the lower timeframes.


If the flagship crypto reclaims the highs from last week’s initial bounce, above the $100,000 barrier, BTC’s market structure will flip around. Daan stated BTC’s momentum is “pretty neutral” in the short term while bullish in the higher timeframes.


Additionally, he pointed out that risk on sentiment will return once Bitcoin goes back into price discovery. According to Rekt Capital, BTC’s Second Price Discovery Uptrend should come in the next few weeks, as the cryptocurrency is trying to “trend reverse out of its 1st Price Discovery Correction,” which started in December. Related Reading Can Bitcoin Hold $97K? – 1-3 Month Holders’ Data Reveals Crucial BTC Demand 1 day ago


Bitcoin has historically begun its second leg up around the 16th week of its Post-Halving Parabolic Phase, suggesting Bitcoin could start its next run to new highs soon. Moreover, February has also been a historically positive month for the flagship crypto.


Several analysts have pointed out that BTC’s post-halving year performance has generally been favorable during Q1, generally struggling throughout the first few weeks of the year but gaining momentum throughout February and March.


As of this writing, Bitcoin trades at $96,091, a 1.2% decrease in the daily timeframe. Bitcoin’s performance in the one-week chart. Source: BTCUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

News Feed

New Study Names Gameta as the Gamefi Project With Highest Monthly Subscribers
New Study Names Gameta as the Gamefi Project With Highest Monthly Subscribers The latest data from Coin 98 Analytics shows the Web3 gaming platform Gameta as the top-ranked gamefi
SUI Forms Inverse Head And Shoulders – Can Bulls Break Above $2.52?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Report: South Korean Prosecutors Accuse Do Kwon of Manipulating LUNA’s Market Price
Report: South Korean Prosecutors Accuse Do Kwon of Manipulating LUNA"s Market Price On Thursday, Nov. 3, 2022, local reports from South Korea disclosed that Korean prosecutors have
XRP To Hit $40 In 3 Months But On This Condition – Analyst
Este artículo también está disponible en español. XRP remains one of the crypto market’s current trailblazers rising by 23.21% in the past 24 hours. Over the last two w
Cryptocurrency Exchange Kucoin Raises $150 Million in Pre-Series B Funding Round, Reaches $10 Billion Valuation
Cryptocurrency Exchange Kucoin Raises $150 Million in Pre-Series B Funding Round, Reaches $10 Billion Valuation Kucoin, a Seychelles-based cryptocurrency exchange, has announced it
Centralized Exchange Operators Believe Low Liquidity on DEX Platforms Stops User Migration
Centralized Exchange Operators Believe Low Liquidity on DEX Platforms Stops User Migration Centralized cryptocurrency exchanges (CEX) operators say they are unfa
Indonesia mulling changes to dual taxation on crypto: Report
Ciaran Lyons3 hours agoIndonesia mulling changes to dual taxation on crypto: ReportThe Commodity Futures Trading Regulatory Agency of Indonesia has urged a reevaluation of the country’s 0.1% capital gains tax and 0.11%
Private Banks Propose to Help Design Digital Currency in Mexico
Private Banks Propose to Help Design Digital Currency in Mexico Private banks in Mexico want to join efforts with the central bank of the country in the creation of a new digital c
This Is The Last Opportunity To Buy Dogecoin ‘Relatively Cheap,’ Predicts Analyst
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Tristan Greene3 hours agoNIST establishes AI Safety Institute Consortium in response to Biden executive orderDocumentation from NIST states the consortium will adopt a “broad human-centered focus” with “specific po
Price analysis 4/29: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA
Rakesh Upadhyay6 hours agoPrice analysis 4/29: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADABitcoin and altcoins are falling toward strong support levels, which appear likely to hold in the short term.2003 Total view
World’s Largest ASIC Producer Bitmain Slashes Antminer Bitcoin Mining Rig Prices
World’s Largest ASIC Producer Bitmain Slashes Antminer Bitcoin Mining Rig Prices The world’s largest producer of application-specific integrated circuit (ASIC) bitcoin min