Bitcoin Finds Price Stability: Reclaiming $101,000 Depends On This Level

3 months ago

Bitcoin (BTC) continues to determination wrong its one-week scope aft recovering from its caller driblet to $91,000 but has failed to reclaim enactment supra the $98,000 mark. Some analysts see that BTC’s sentiment volition stay neutral portion it regains this enactment portion and builds up momentum toward a caller high.

Bitcoin Price Stability Could Lead To $101K Reclaim

Following the start-of-February marketplace correction, Bitcoin has been moving wrong the $96,000-$99,000 terms range. The flagship cryptocurrency has recovered from its momentary autumn to $91,000 and recovered enactment wrong its one-week range, lone dropping 2% during this Sunday’s marketplace retrace.

The largest cryptocurrency has been hovering betwixt $90,000 and $108,000 since the US Elections pump, moving successful the mid-zone of its four-month terms scope for astir of this period.

Crypto expert Rekt Capital pointed retired Bitcoin’s affirmative performance, arsenic it “continues to bask terms stability” supra a diagonal trendline support, a erstwhile one-month downtrend line, breached during the latest all-time precocious (ATH) breakout.

Since the DeepSeek-triggered correction, Bitcoin recorded terms advances “that person been rapidly getting canceled out, arsenic evidenced by the caller upside wicks.” However, BTC’s terms continued to clasp the diagonal trendline arsenic enactment implicit the week, which is indispensable to physique further momentum.

According to the analyst, “As agelong arsenic it continues to hold, the terms volition beryllium positioned for a revisit of $101k implicit time.”

After its astir caller terms action, BTC needs to reclaim the $97,700 people to “build connected this reversal with further follow-through.” To execute this, the flagship cryptocurrency indispensable people a regular adjacent supra this level and reclaim it arsenic enactment to physique connected its momentum toward the $101,000 resistance.

BTC Remain Bullish successful Higher Timeframes

Daan Crypto Trades highlighted BTC’s scope hasn’t changed, arsenic it continues to determination sideways portion galore altcoins person been losing ground. According to the X post, Bitcoin is consolidating portion attempting a breakout connected the little timeframes.

If the flagship crypto reclaims the highs from past week’s archetypal bounce, supra the $100,000 barrier, BTC’s marketplace operation volition flip around. Daan stated BTC’s momentum is “pretty neutral” successful the abbreviated word portion bullish successful the higher timeframes.

Additionally, helium pointed retired that hazard connected sentiment volition instrumentality erstwhile Bitcoin goes backmost into terms discovery. According to Rekt Capital, BTC’s Second Price Discovery Uptrend should travel successful the adjacent fewer weeks, arsenic the cryptocurrency is trying to “trend reverse retired of its 1st Price Discovery Correction,” which started successful December.

Bitcoin has historically begun its 2nd limb up astir the 16th week of its Post-Halving Parabolic Phase, suggesting Bitcoin could commencement its adjacent tally to caller highs soon. Moreover, February has besides been a historically affirmative period for the flagship crypto.

Several analysts person pointed retired that BTC’s post-halving twelvemonth show has mostly been favorable during Q1, mostly struggling passim the archetypal fewer weeks of the twelvemonth but gaining momentum passim February and March.

As of this writing, Bitcoin trades astatine $96,091, a 1.2% alteration successful the regular timeframe.