$BTCUSDT Analysis for the week (Feb 5 2025 - Feb 09 2025)
2025-02-05
Category: None

BYBIT:BTCUSDT.P  

Disclaimer:

All my analyses are for educational purposes only and should not be considered as the sole or definitive tool for making financial decisions. It is essential to conduct your own due diligence and develop a personal outlook on the market while applying appropriate strategies that align with market movements. I am not responsible for any financial losses incurred by blindly following my market outlooks or trading without a well-structured plan and strategy. I strongly encourage everyone to invest in their education, gain experience in trading, and develop a sound trading system that aligns with their overall philosophy, beliefs, and risk profile.

BTC Market Outlook:

As we can see on the chart (daily timeframe), weakness has emerged as evidenced by the double top.

There was a flush on February 3, which resulted in a bearish engulfing on February 4, but it did not continue. Currently, we expect the outlook for February 5 and beyond to be a sideways market.

The RSI (daily timeframe) suggests a weakening of price momentum since November 24, 2024.

The price itself needs to consolidate and reset.

Risk Management Recommendations:

Set target profits near resistances on your trades.
Allocate less.
Continue to scout for more high RRR trades.
Possible Scenarios:

Scenario #1: BTC must healthily consolidate within the 100,000 - 107,000 levels to maintain a bullish perspective.

Scenario #2: BTC will break out at the 107K level, continuing a longer bullish trend (weekly, monthly timeframe).

Scenario #3: BTC will consolidate and break down below the 100K level, signaling the start of a bear market.

My personal strategy for the week - I will scout more high RRR opportunities and become more defensive in allocating my portfolio.

-Trade in probabilities, manage your risk, take care of your psyche-
-@artofbuyandsell 2025-