On that fateful day of February 4th, as the world watched with bated breath, the valiant, albeit volatile, Bitcoin dared to breach the $100,000 bastion. Yet, this mountaineering feat was promptly thwarted as the belligerent China announced retaliatory tariffs on American wares, including a reasonable 15% on coal and liquefied natural gas, and a grudging additional 10% on crude oil, agricultural machinery, and certain vehicles.
In a comeback that would rival even the most tragic of operas, Bitcoin retreated to $98,000 – curse you, capricious trade war!
But fear not, dear trader! Let us delve into the labyrinth of key levels that may guide our ship through these tempestuous seas.
Bitcoin Price “Golden Zone” Hovers Around $90,000
Amid this waltz of highs and lows, our stoic Bitcoin seemed inclined towards the $90,000 mark on February 3rd, reminiscent of its tragic tumble from the summit of $108,000 only a month prior.
This mark, ever the sentinel, has beckoned traders since November 18th.
Our dear comrade George, ever the sage, postulates two plausible scenarios.
“Depends on whether you believe the bottom has been struck,” he quipped on X, with the nonchalance of a weathered fortune-teller.
Ah, but should support hold at the optimal trade entry (OTE) area of $93,000 to $95,000, we may yet stave off disaster.
Failing that, eyes wide open, my friends, “look yonder towards the depths below for a grand spike before reinvesting,” added George, wearing the cloak of wisdom.
“Methinks we’ve hit a low for now, but brace yourselves for a bit of ranging in February. Perhaps expansion shall follow.” 😏
Another analyst, Mark Cullen, employing the ancient Fibonacci numerology, notes several support levels likely to step into play.
The 38.2% retracement level around $98,000 could be where the digital serpent catches its breath. But lo! A bullish order block lies at $95,000, awaiting eagerly.
“If Bitcoin craves to shake off the latecomers, $95,000 is yet another spot to watch,” Cullen declared with the acumen of an experienced sage.
Meanwhile, over in the rich domain of MN Capital, founder Michael van de Poppe, with optimistic fervor, predicted new heights for Bitcoin in February, should it comfortably recline above $93,000.
“Expect new all-time highs (ATHs) in February. A correction post bounce? Quite natural, I’d say,” pondered Michael, with a slight raising of the eyebrow 🤨.
Bitcoin Price Must Stay Above $97,000
By closely examining the distribution of Bitcoin transactions (URPD), one might discern the sanctified grounds where current unspent transaction outputs arose, akin to peering into the soul of a knight’s ledger.
Thus, support guardians like $97,500, $96,450, and $94,300 know their duty well, courtesy of the Glassnode’s enlightening charts below.
Oh, but lest we forget, resistance strongholds loom at $100,780 and $101,867. That is, if you are inclined to play with fire 🐉.
Our immediate bastion just above $97,000 is particularly cherished, as indicated by the CoinGlass’s Bitcoin liquidation heatmap, which reveals a burgeoning bid liquidity wall. Indeed, a retest of support and a liquidity grab here seem inescapable 💹.
As CryptoMoon prophesied, data from derivatives suggests the nadir lies close. Yet, investor trepidation may thwart a pike above $100,000… for now. Is that a challenge, Bitcoin? 🤔
Read More
- Marvel Rivals Season 1 is bringing the Fantastic Four — here’s the Invisible Woman in action
- LDO PREDICTION. LDO cryptocurrency
- POL PREDICTION. POL cryptocurrency
- Looks Like DOOM 64 Is Getting a Native PS5 Port
- DUSK PREDICTION. DUSK cryptocurrency
- Will GOAT’s latest 31% hike finally push it above $1 on the charts?
- DGB PREDICTION. DGB cryptocurrency
- TNSR PREDICTION. TNSR cryptocurrency
- JTO PREDICTION. JTO cryptocurrency
- Mean Girls Star Has Perfect Idea for a Reunion After Christmas Movie Success
2025-02-04 16:15