Short-term Trend Analysis • Technical Indicators: As of February 10, 2025, the overall price prediction sentiment for Bitcoin is bearish, with 14 technical indicators showing bullish signals and 20 showing bearish signals. Additionally, Bitcoin's Relative Strength Index (RSI) is 42.43, indicating a neutral state. From a short-term perspective, Bitcoin's 50-day Simple Moving Average (SMA) is expected to reach $97,407.03 on March 11, 2025, while the 200-day SMA will increase to $84,021.68 next month[^2^]. Currently, the price of Bitcoin is around $96,352[^3^], slightly below the 50-day SMA, suggesting that the market may face some selling pressure in the short term. • Market Sentiment: Although market sentiment has slightly improved, open interest has decreased by 2.30%, down to $58.84 billion. This indicates a decrease in overall market participation, and investors may be on the sidelines. Key Support and Resistance Levels • Support Level: The current key support levels are at $95,000 and $92,000[^5^]. If the price drops below $95,000, it may further decline to $92,000. • Resistance Level: The resistance levels are at $100,000 and $105,000. If Bitcoin can break through $100,000, it may rise further to $105,000. Institutional Positions: BlackRock has continued to increase its holdings in BTC and ETH during the recent market pullback. This trend indicates that institutional investors remain confident in Bitcoin, which may support the price to some extent. Market Expectations: Despite short-term technical indicators showing some bearish signals, some analysts believe that Bitcoin may be on the verge of a larger breakout. Overall, Bitcoin's price movement this week may be relatively volatile. Although technical indicators show some bearish pressure, the accumulation behavior of institutional investors and the overall long-term trend of the market still provide some support for Bitcoin's price. If the price can effectively break through the resistance level of $100,000, a short-term rise may follow; conversely, if the support level is breached, further declines may occur.
