Bitcoin Price Pulls Back Again: Key Support Levels to Watch
- February 05, 2025
- Source: https://www.newsbtc.com/analysis/btc/bitcoin-price-pulls-back-100k/
Bitcoin price started another decline from the $102,500 zone. BTC is trimming gains and struggling to stay above the $96,500 support zone. Bitcoin started a fresh decline below the $100,000 level. The price is trading below $99,500 and the 100 hourly Simple moving average. There is a new connecting bearish trend line forming with resistance at $99,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $95,500 zone. Bitcoin Price Dips Below $100,000 Bitcoin price failed to continue higher above the $102,500 zone. It started another decline below the $100,000 zone. BTC gained bearish momentum for a move below the $98,500 and $97,500 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $91,000 swing low to the $102,500 high. The price even tested the $96,500 support zone and is currently consolidating losses. There is also a new connecting bearish trend line forming with resistance at $99,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $98,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $98,000
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