BTC (1ST FEB PRICE UPDATE)
2025-02-01
Category: None

BTC's Resistance and Support Levels

Resistance: 104K
Immediate Weekly Support: 98K
I won't call a bear market until we see prices drop to 94K—and most importantly, to 90K. BREAKING BELOW 90K, I WOULD BE READY TO CALL A BEAR MARKET!

Currently, BTC is consolidating between 94K and 104K, which is exactly what I've been hoping to see. I was also expecting that this consolidation phase might spur a rally in altcoins, but so far, that hasn't happened.

As I mentioned in my Telegram group, this consolidation is necessary. If BTC breaks above 104K, the bulls might run out of capital to continue pushing prices upward, which could weaken the rally. Conversely, a breakdown toward 94K signals that the bears are ready to take full control.

I'm optimistic that the BTC.DOM chart will experience a significant decline soon, providing the momentum that altcoins need to surge. For more insights, be sure to check out my other BTC.DOM chart.