$BTC Trading strategy for today:
As of February 24, 2025, the Bitcoin price is $95,677.99, down about 0.461%. The current price is consolidating between $95,000 and $100,000, indicating a sideways trend. The 50-day moving average plays a key role, providing support at $92,000 and forming resistance at $100,000.
Key technical indicators and levels
Support levels:
- $92,000: 50-day moving average support
- $90,000: Psychological support
Resistance levels:
- $100,000: Psychological resistance key point
- $110,000: Upper limit of the current consolidation range
The relative strength index (RSI) is currently at 50, indicating neutral market sentiment; if the RSI crosses 60, it may indicate an upward trend.
Fundamental and market sentiment analysis
Bullish signal:
According to Santiment data, there are several positive indicators in the market:
- The average wallet return rate is -2.9%, indicating that it is currently in the accumulation stage;
- The healthy level of long-term unused assets suggests that older coins are beginning to circulate, which often indicates a potential rally;
- The exchange holdings are low, accounting for only 7.6%, a significant decrease from 9.9% six months ago, indicating that market liquidity is tightening.
Trading strategy recommendations
Long strategy:
- Entry point: $92,000 (based on 50-day moving average support)
- Stop loss: $90,000
- Take profit: $110,000 (upper limit of consolidation range)
Strategy logic: If the price breaks through $100,000, it may trigger an uptrend and extend to $110,000. The long strategy has profit potential with the support of improved wallet data and market sentiment.
Short-term short-selling strategy:
- Entry point: $100,000 (key resistance level)
- Stop loss: $102,000
- Take profit: $95,000
Strategy logic: If Bitcoin cannot effectively break through $100,000, the market may experience a short-term correction. At this time, a short-term short-selling strategy can be considered, and close risk management is required.
