BTC/USD quotes are trading at 98020 and continue to move within the framework of the correction and bearish channel development. Moving averages indicate a short-term downward trend for Bitcoin. Prices have broken through the area with signal lines downwards, which indicates pressure from sellers of “Digital Gold” and a potential continuation of the asset’s fall from current levels. As part of the cryptocurrency rate forecast for tomorrow, February 6, 2025, we should expect an attempt to develop growth in the value of the digital asset and a test of the resistance level near the 100305 area. From where we should again expect a downward rebound and an attempt to continue the fall of the Bitcoin rate with a target below the 92665 area.
Bitcoin Forecast and Analysis for February 6, 2025
An additional signal in favor of a decrease in BTC/USD quotes will be a test of the resistance line on the relative strength indicator. The second signal in favor of this option will be a rebound from the upper border of the bearish channel. The cancellation of the option of falling coin rate and Bitcoin price will be a strong growth of the asset price and a breakout of the 103025 area. This will indicate a breakout of the resistance area and continued growth of the Bitcoin rate with a potential target at 108607. The confirmation of the asset price fall will be a breakout of the support area with the price fixing below 95205.
Bitcoin Forecast and Analysis for February 6, 2025 suggests an attempt to test the resistance level near the 100305 area. And then, the continuation of the fall of the cryptocurrency with a potential target at 92665. An additional signal in favor of the decline of Bitcoin will be a test of the resistance line on the relative strength indicator. The cancellation of the option of falling digital currency will be a breakout of the 103025 area. This will indicate continued growth of the coin with a potential target above 108607.
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