Bitcoin Preparing For A February Rally? Analyst Says New High Is Two Weeks Away

1 day ago

After starting the week with a reddish Monday, Bitcoin (BTC) has recovered the $100,000 zone, registering a 4% betterment from yesterday’s lows. Following its recovery, immoderate crypto analysts suggested that BTC could beryllium getting acceptable for a February pump.

Choppy January, Double-Digit February?

On Monday, the crypto marketplace suffered a shakeout generated by the broader sell-off ignited by DeepSeek’s Artificial Intelligence (AI) news. Altcoins similar Ethereum (ETH) and Solana (SOL) fell 8.4% and 15%, respectively, portion Bitcoin dropped 5%.

The flagship cryptocurrency fell beneath the $100,000 people for the archetypal clip successful implicit a week, dipping to $98,000 connected Monday. However, it has experienced a beardown rebound, recovering the important enactment portion arsenic the time ended.

After surging to $102,000 connected Tuesday morning, Bitcoin has been incapable to reclaim $103,000, moving sideways wrong the $102,000-$102,990 terms scope passim the day.

Trader Daan Crypto noted that Bitcoin continued moving successful the mid-zone of its post-election scope contempt the drop. “Right backmost into the high-volume country wrong this range. Doesn’t look similar the $100K people is near down truthful easy conscionable yet,” helium wrote.

Daan considers that arsenic agelong arsenic Bitcoin doesn’t interruption beneath oregon supra $90,000 oregon $108,000, the terms volition proceed with its “decent but choppy” performance. However, helium suggested that Bitcoin could person a amended terms enactment adjacent period based connected its humanities performance.

The trader points retired that February has been historically BTC’s second-best month, lone down October. In the past 12 years, Bitcoin has seen a greenish show during this period 10 times, registering up to 61% monthly return, according to CloinGlass data.

Similarly, Rekt Capital stated that successful its post-halving years, Bitcoin saw a double-digit nett successful February, with 61% successful 2013, 23% successful 2017, and 36% successful 2021. The analysts added that “8 retired of the past 12 February dating backmost to 2013 person produced double-digit upside.”

Bitcoin Next Leg Up Coming Soon

Rekt Capital besides considers that BTC is preparing for its adjacent limb up. The expert explained that Bitcoin completed its archetypal post-halving Price Discovery Uptrend and archetypal Price Discovery Uptrend Correction.

This suggests that BTC “should beryllium capable to embark connected its 2nd Price Discovery Uptrend to caller highs” successful the adjacent 2 weeks. According to Rekt Capital, the 2nd signifier historically starts during week 16 of Bitcoin’s Parabolic Phase, with Bitcoin presently starting the 14th week.

“In Week 14 of the 2017 cycle, Bitcoin was recovering from its archetypal Price Discovery Correction lone to marque caller highs successful Week 16 In Week 14 of the 2021 cycle, Bitcoin was inactive conscionable bottoming connected its archetypal Price Discovery Correction lone to marque caller highs successful Week 16,” the expert detailed.

As a result, Rekt Capital suggests capitalist “Patienlly HODL” for the adjacent 2 weeks, arsenic “confirmation Of The 2nd Price Discovery Uptrend” is acceptable to commencement adjacent month.

Moreover, Bitcoin’s Monday adjacent supra $101,200 developed a “new early-stage Higher Low,” which could spot the terms “consolidate further present to arsenic precocious arsenic the Range High astatine $106,200” if it continues to clasp supra this level.