#LAYEROnBinance

As of February 12, 2025, Bitcoin (BTC) is trading at approximately $96,370 against Tether (USDT), reflecting a 1.86% decrease from the previous close.

Technical Analysis for the Upcoming Weekend (February 15-16, 2025):

1. Support and Resistance Levels:

• Support: Key support levels to monitor are $92,000, $87,000, and $74,000. A decline below these levels could signal further bearish momentum.

• Resistance: Immediate resistance is observed at $106,000. A break above this level may indicate a resumption of the uptrend. 

2. Moving Averages:

• 50-Day SMA: Projected to reach $109,179 by March 6, 2025, suggesting potential upward movement in the near term.

• 200-Day SMA: Expected to rise to $85,621 by the same date, indicating a longer-term bullish trend. 

3. Relative Strength Index (RSI):

• Currently at 51.33, placing it in a neutral zone. Values above 70 indicate overbought conditions, while below 30 suggest oversold. 

4. Chart Patterns:

• Recent formations, such as a shooting star and a bearish engulfing pattern, suggest potential bearish reversals. 

Conclusion:

Bitcoin is currently navigating a consolidation phase, with critical support at $92,000 and resistance at $106,000. The neutral RSI and anticipated upward movement in moving averages suggest potential for bullish momentum, provided the price maintains above key support levels. Traders should monitor these levels closely, as a breach could indicate significant directional moves.

Please note that cryptocurrency markets are highly volatile. This analysis is based on available data as of February 12, 2025, and should not be considered financial advice. Always conduct thorough research before making investment decisions.$BTC