Bitcoin (BTC/USD): Period of Consolidation and Uncertainty
2025-02-16
Category: None

⚠️ Bitcoin (BTC/USD) Wave Analysis 

Bitcoin is currently in a consolidation phase, trading within a wide horizontal range on the daily chart after a strong bullish rally.  

- **Resistance Zone:** 106,027 - 109,582 (Aligns with the All-Time High resistance)  
- **Support Zone:** 89,378 - 92,797  

There are two possible scenarios based on price action at these key levels:  

1. **Bullish Breakout:** A confirmed breakout and close above resistance could trigger another upward wave, targeting at least 120,040.  
2. **Bearish Breakdown:** A break below support may indicate a corrective move.  

It is advisable to wait for a decisive breakout before making trading decisions.