BTC/USD quotes are trading at 97268 and continue to move within the framework of the correction development and the formation of the “Triangle” model. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices have broken through the area with signal lines upwards, which indicates pressure from buyers of “Digital Gold” and a potential continuation of the growth in the value of the asset from the current levels. As part of the cryptocurrency rate forecast for tomorrow, February 21, 2025, we should expect an attempt to develop a correction in the value of the digital asset and a test of the resistance level near the 99675 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 86705 area.
Bitcoin Forecast and Analysis for February 21, 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 102205 area. This will indicate a breakout of the resistance area and continued growth of the Bitcoin rate with a potential target at 109505. Confirmation of the asset price fall will be a breakout of the support area with the price fixing below 90505, which will indicate a breakout of the lower border of the “Triangle” pattern and the beginning of the pattern implementation with targets below.
Bitcoin Forecast and Analysis for February 21, 2025 suggests an attempt to test the resistance level near the 99675 area. And then, the continuation of the fall of the cryptocurrency with a potential target at 86705. An additional signal in favor of the decline in the Bitcoin rate will be a test of the resistance line on the relative strength indicator. The breakdown of the 102205 area will cancel the option of the digital currency falling. This will indicate continued growth of the coin with a potential target above the 109505 mark.
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