Bitcoin (BTC) continues to move in its one -week range after recovering from its recent drop to $ 91,000, but failed to recover the support greater than the bar of $ 98,000. Some analysts consider that the feeling of the BTC will remain neutral while it will resume this area of ​​support and take the momentum towards a new summit.
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Bitcoin price stability could cause $ 101,000 recovery
After correction of the early February market, Bitcoin was mobile In the price range from $ 96,000 to $ 99,000. The flagship cryptocurrency recovered from its momentary fall at $ 91,000 and found support in its one-week range, making only 2% during the retirement of this Sunday market.
The largest cryptocurrency oscillates between $ 90,000 and $ 108,000 from the US election pump, moving into the intermediate area of ​​its four-month price range during most of this period.
The Crypto Rekt Capital analyst underlined the positive Bitcoin performance, because it “continues to take advantage of price stability” above a diagonal trend medium, a previous decrease line, broken during The last escape of all time (ATH).
Since the correction triggered in depth, Bitcoin has recorded price progress “which have been quickly canceled, as evidenced by the recent wicks up”. However, the price of BTC continued to maintain the diagonal trend line as a support during the week, which is necessary to create additional momentum.
According to the analyst, “as long as he continues to hold, the price will be positioned for a revisit of $ 101,000 over time.”
After his last price action, BTC must recover the $ 97,700 mark to “rely on this reversal with additional follow -up”. To achieve this, the flagship cryptocurrency must print a daily closure above this level and recover it as a support to rely on its momentum towards the resistance of $ 101,000.
BTC remains optimistic in higher deadlines
Daan Crypto Trades highlighted the BTC range has not changed, while it continues to move aside While many Altcoins have lost ground. According to the X Post, Bitcoin is consolidated while trying a break on the lower deadlines.
If the flagship crypto to recover The summits of the initial rebound last week, above the barrier of $ 100,000, the structure of the BTC market will turn around. Daan said that BTC’s momentum is “fairly neutral” in the short term while being optimistic within the highest time.
In addition, he sharp The risk on feeling will come back once Bitcoin returns to pricing. According to Rekt Capital, the second price of the BTC is the upward trend should Come in the coming weeks, because cryptocurrency tries to “tend to reverse its 1st price discovery correction”, which started in December.
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Bitcoin has historically started its second stage towards the 16th week of its post-recompress parabolic phase, which suggests that Bitcoin could start its next race for new heights soon. Moreover, FEBRUARY was also a historically positive month for the flagship crypto.
Several analysts have stressed that the performance of the post-stay year of the BTC was generally favorable during the first quarter, generally struggling in the first weeks of the year, but gaining momentum in February and March .
To date, Bitcoin is negotiated at $ 96,091, a decrease of 1.2% of the daily time.
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