- Bitcoin value hovers close to all-time highs, testing resistance at $109,312. Lunar New 12 months and February seasonality trace at main value motion forward.
- Predicts a market downturn in March 2025, citing historic election-year patterns. Complete lunar eclipse may act as a catalyst for correction.
- Brief-term uptrend intact; key resistance at $107K–$109K. A breakout may ship BTC to $115K–$120K, whereas failure dangers a drop to $99,300.
Bitcoin value continues to hover close to all-time highs because the market coils up towards the earlier excessive of $109,312. With the Chinese language Lunar New 12 months marking the start of the 12 months of the snake, there’s anticipation for vital actions in crypto, significantly as market transitions into February.
Analyst Warns Bitcoin Value Might Crash In March
Well-known crypto analyst Waters Above who precisely predicted the August 5, 2024 market crash, accurately calling the underside of the 2024 correction has predicted one other crash due in March 2025.
Waters Above says the market is drawing parallels to earlier years, significantly 1965 (the final 12 months of the wooden snake), noting that the inventory market skilled value discovery and corrections much like present developments .
Based on Waters Above, observations from 1964 spotlight that the market usually strikes down into election day, with corrections usually occurring after elections. This sample was mirrored in 2024, suggesting a possible repeat in 2025 .
The analyst additionally notes that lunar cycles are essential for predicting market actions. The upcoming complete lunar eclipse in March 2025 is predicted to set off vital corrections, following patterns noticed in earlier years .
Bitcoin value actions in March and April have traditionally proven volatility. Notably, March tenth has been a crucial date for vital value adjustments, usually resulting in corrections.
The analyst predicts Bitcoin may attain $106,000 within the subsequent few days, which can set off additional upward momentum for the entire crypto market in February 2025. The expectation is for a double peak cycle much like 2013, with vital actions anticipated in August 2025 .
📊 Bitcoin Value Chart Evaluation: BTC Eyes $110,000 Within the Brief Time period
BTC value is at present in a short-term uptrend, having damaged out of a descending channel. The subsequent main resistance zone is round $107,000 – $109,000, which was a earlier excessive.
The breakout candle suggests bullish momentum, however rejection at resistance may result in a pullback to assist close to $103,800 (50-day EMA) , adopted by $99,300 (200-day EMA) if it drops decrease.
The Relative Energy Index (RSI) is at present at 53.44, indicating impartial momentum with potential for additional upside.
Within the short-term, lengthy positions across the retest of the breakout stage at $103,800 may very well be worthwhile. Within the long-term, if BTC value breaks above $109,000 with quantity, it may soar to $115,000- $120,000 vary. Conversely, failure to interrupt may result in a correction again to $99,300 assist.
DISCLAIMER: The work included on this article relies on present occasions, technical charts, firm information releases, and the creator’s opinions. It might include errors, and also you shouldn’t make funding choices primarily based solely on what you learn right here.