As of February 9, 2025, Bitcoin (BTC) is trading at $96,816, up 0.62% over the past 24 hours.
Technical Analysis: Relative Strength Indicator (RSI):** RSI is in the neutral zone, indicating no clear overbought or oversold signals.
Moving averages: The price is above the 50-day and 200-day moving averages, confirming a bullish trend.
Support and resistance levels:**
- Support: $95,000
- Resistance: $100,000
Fundamental factors:**
Expectations of reduced regulation of digital assets due to the new administration of President Donald Trump and possible approval of spot bitcoin ETFs are driving increased interest from institutional investors. citeturn0news24
Forecast for the week from February 10 to 16, 2025:
According to forecasts, bitcoin may trade in a range from $95,309 to $99,868. It is expected that the week will start at $96,321, and by the end of the week, the price may reach $99,868, corresponding to a growth of 3.68%.
Recommendations:
It is important to closely monitor news related to cryptocurrency regulation and ETF approvals, as well as technical indicators to make informed decisions. Support and resistance levels can serve as benchmarks for entering and exiting positions.