Bitcoin price technical analysis reveals BTC USD in the midst of uncertainty. Where is BTC headed next? Check out BTC price analysis.
Bitcoin hasn’t really provided anything to worry about over the past weeks, price analysis shows. If a person tracks Crypto Twitter or looks at their altcoin portfolio, they could get worried. That is because alts had a major sell-off while Bitcoin revisited the support level it has held since late November.
Crypto sentiment is at levels not seen since December 2023 when Bitcoin was around $38,000
Act accordingly pic.twitter.com/leftvyPyaf
— Quinten | 048.eth (@QuintenFrancois) February 10, 2025
The graph above paints a good picture of where sentiment has gotten to. To the investor who doesn’t look at the charts daily, it could be strange. But it is healthy to zoom out, which is what we will be doing today.
Here, you can see my previous post on BTC’s price. Since then, the price has generally been ranging, not breaking below support at ~$91,600-92,000.
Quinten has gotten his hands on some really handy charts.
New whales are buying Bitcoin at a very aggressive rate 🚨 pic.twitter.com/8dkP8yPUMT
— Quinten | 048.eth (@QuintenFrancois) February 10, 2025
This one shows the growth of new whales buying Bitcoin, and we’re seeing an increase of around 43%.
EXPLORE: Bitcoin Historical Price
Bitcoin Crypto Price Analysis: The BTC USD Charts Tell No Lies…
A wise trader once said, “When in doubt, zoom out.” Very wise words!
(BTCUSDT)
As we zoom out on the 1D chart, looking at our Moving Averages is good. Over the past month, we have seen price touching the MA100 line a few times, which is acting as support. We saw similar action in January last year. We can also see that the Relative Strength Indes level held steady support at 41 points.
(BTCUSDT)
Zooming in we can easily identify a rectangular range, which has price bound for over 2 months now. The dotted line is the middle of the range, which is what we want to see broken next.
The last touch of the support line was followed up by a lot of buying, and the price formed a 12% daily candle—talk about volatility! As interest in Bitcoin grows and more money flows in, such volatility is to be expected in the near future.
(BTC/USDT)
And our for last chart analysis today I will include the Fixed Range Volume Profile for the duration of the rectangular range. The point of interest (red line) is in the bottom part of the mid-range.
That means traders have created the most volume in that specific price area. These can be used as areas of interest, such as support or resistance levels, or they could be great for confluence with order blocks.
In conclusion, as the charts show us, there is nothing to be worried about at this point in time. Price has been range-bound even though we’ve witnessed the second-largest liquidation event in crypto history.
EXPLORE: Crypto Trends For Bullrun – January 2025
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