Bitcoin BTC/USD ends the trading week at 98224 and continues to move within the development of the correction and the bullish channel. The moving averages indicate the presence of an upward trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from asset buyers and a potential continuation of the asset’s quotes growth. At the moment, we should expect an attempt to develop a fall in the coin price and a test of the support area near the level of 94505. From where we should again expect an upward rebound and continued growth of the Bitcoin rate with a potential target above the level of 130605.
Bitcoin Weekly Forecast February 24 — 28, 2025
An additional signal in favor of the growth of BTC/USD quotes in the current trading week of February 24 — 28, 2025 will be a rebound from the lower border of the “Triangle” model. The second signal will be a rebound from the support line on the relative strength indicator (RSI). The Bitcoin growth option will be cancelled by a fall and a breakout of the 81505 area. This will indicate a breakout of the support area and a continuation of the fall of BTC/USD quotes with a potential target below the 75455 level. The development of the bullish movement will be confirmed by a breakout of the resistance area and closing of quotes above the 108605 level, which will indicate a breakout of the upper border of the “Triangle” pattern and the beginning of the implementation of the pattern with targets at the top.
Bitcoin Weekly Forecast February 24 — 28, 2025 suggests an attempt to reach the support area near the 94505 level. Then, the continuation of the growth of the cryptocurrency to the area above the 130605 level. An additional signal in favor of the rise in the Bitcoin rate this trading week will be a test of the trend line on the relative strength indicator. The cancellation of the Bitcoin cryptocurrency growth option will be a fall and a breakout of the 81505 area. In this case, we should expect a continuation of the decline with a target at 75455.
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