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21.02.2025 01:12 PM
Another Friday has arrived, yet Bitcoin continues to remain in a wait-and-see mode. The price range remains narrow, with the market holding below the short-term weekly trend resistance at 99,497. As a result, there have been no significant changes in the overall market outlook. For bullish traders, the key objectives remain the same: reclaiming control over the short-term weekly trend and pushing the price towards the psychological resistance at 110,000.
On the daily timeframe, breaking above the 99,497 level will require bulls to simultaneously neutralize the daily death cross at 100,587 and establish a position above the daily Ichimoku cloud (99,497 – 101,670). On the other hand, if bearish traders gain momentum and successfully restore the downtrend at 91,161, the next targets will be a test of the nearest weekly support at 88,040 and fulfilling the daily breakdown target within the 87,712 – 85,237 range.
On lower timeframes, bullish traders currently have the upper hand. Interestingly, several upward targets exist for further price increases. These include the classic Pivot resistance levels at 99,047 – 100,054 – 101,445, along with two breakout targets within the H4 Ichimoku cloud. Since the current low is not the final one before breaking the cloud, the first H4 target zone is at 99,827 – 100,549, while the second extends to 101,544 – 102,697.
If the market moves downward, the initial support levels are at 97,655 (central daily Pivot level) and 96,420 (weekly long-term trend). Below these, additional supports from the classic Pivot levels at 95,257 and 94,250 will come into play.
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