2025.2.16 Market Analysis
Based on on-chain data, $87,000 is the 'short-term holding cost basis' for Bitcoin. If the price approaches this level, it may trigger a large number of buy orders (demand concentration zone). If it falls below, keep an eye on the key gap support at $71,000.
$125,000 is an important psychological level predicted by recent technical analysis. Elliott Wave Theory suggests that a breakthrough may extend towards $160,000, but be wary of profit-taking pressure.
The 50-day SMA ($63,641) is above the 200-day SMA ($59,152), indicating a bullish alignment. The RSI (66.21) shows a neutral to strong bias, but caution is advised against short-term overbought pullback risks.
Trade Suggestions
Aggressive:
Around $87,000 (support level rebound signal), stop loss at $84,500.
Conservative: $89,000 (enter after correction wave completion), stop loss at $87,000.
First target $125,000, second target $160,000