BTC/USD quotes are trading at 97800 and continue to move within the development of the correction and the formation of the “Triangle” model. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices broke through the area with signal lines downwards, which indicates pressure from sellers of “Digital Gold” and a potential continuation of the fall in the value of the asset from the current levels. As part of the cryptocurrency rate forecast for tomorrow, February 11, 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 100685 area. From where we should again expect a rebound downwards and an attempt to continue the fall of the Bitcoin rate with a target below the 83605 area.
Bitcoin Forecast and Analysis for February 11, 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 “Triangle” model. 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 110675 area. This will indicate a breakout of the resistance area and continued growth of the Bitcoin rate with a potential target at 116205. The fall of the asset price will be confirmed by a breakout of the support area with the price fixing below 88605, which will indicate a breakout of the lower border of the “Triangle” pattern and the beginning of the implementation of the pattern with targets below.
Bitcoin Forecast and Analysis for February 11, 2025 suggests an attempt to test the resistance level near the 100685 area. And then, the continuation of the fall of the cryptocurrency with a potential target at 83605. An additional signal in favor of a decrease in the Bitcoin rate will be a test of the resistance line on the relative strength indicator. The breakdown of the 110675 area will cancel the option of the digital currency falling. This will indicate continued growth of the coin with a potential target above the 116205 mark.
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