Bitcoin‘s got the 🐢💨, folks! It’s stuck around the 100-day moving average, and the market’s like a 🎢 – could go up, could go down. But hey, a bullish rebound’s still a 💪 possibility!
Technical Analysis
By Shayan
The Daily Chart
Bitcoin’s price is 🎯 at $96K, with sellers trying to push it below the 100-day moving average. If they succeed, we might see a deeper correction towards $90K. But if buyers defend this zone and initiate a rebound, we could be looking at $100K! The RSI’s at 50, so it’s a 🐂🐻 showdown!
The 4-Hour Chart
On the 4-hour timeframe, Bitcoin’s in a 📈 flag pattern. The price’s just above the lower boundary, and if it holds, we could see a breakout and continuation of the uptrend. But if it fails, 📉 to $90K or lower. Buckle up for 🚀💥 volatility!
On-chain Analysis
By Shayan
Bitcoin’s 🔄 near all-time highs is due to long-term investors taking profits. The Long-Term Holder SOPR metric shows they’re selling their holdings. But hey, these profit-taking levels are lower than last summer when Bitcoin was at lower price levels. If selling pressure eases, Bitcoin could gain momentum for a new leg higher and break out of its current consolidation phase!
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2025-02-15 18:19