February began on the wrong foot, although it is a very positive month for Bitcoin. This time, though, the cryptocurrency fell on Sunday and Monday by $ 15,000 within days.
Despite the failure of the original to recover most of the losses since the end of January, the total bullish feelings remain strong on several fronts.
Fear is good
The above -mentioned accident decreased to a decrease in the price of bitcoin, as it exceeded 106,000 dollars last Friday before it was thrown about 91,000 dollars on Monday morning during the collapse caused by the American customs tariff. Large price movements in either direction tend to influence the morale of the comprehensive market, and this correction was not an exception.
Popular encryption analyst Ali Martinez I pushed The graph that indicates that the crowd has turned negatively towards BTC. Moreover, the fear and greed index also moved from “greed” to “fear” for the first time since the US elections in November. However, both can actually be a convincing blessing of the largest encryption origin because “the best purchase chances often come when the feelings of the crowd towards bitcoin are negative,” said Martinez.
Let’s not forget the eternal Warren Pavite advice, indicating that investors should be afraid when people are greedy and vice versa.
Decisive support and purchase pressure
Martinez also highlighted 92,800 dollars as decisive support, which offers whether or not running the bull is intact. If BTC keeps it, MVRV pricing turns out that the bull condition is still active, while the decrease that it says may originally cause a problem.
The cryptocurrency under this line has declined on several occasions in the past few months, but it has managed to apostasy immediately after each correction.
#Bitcoin $ BTC It maintains more than 92,800 dollars, maintains a healthy bull, according to MVRV. pic.twitter.com/icb14ejeht
Ali (ali_charts) February 9, 2025
Finally, the analyst confirmed that investors working in two of the largest transparency – HTX and Bitmex – went to a burst of accumulation because the purchase pressure on both of them passed the ceiling last day or so.
Increase in buying pressure for #Bitcoin $ BTC It has just been registered htx_global and pitmex! pic.twitter.com/zfjklgdsgm
Ali (ali_charts) February 8, 2025
Reward: February
Although BTC is currently decreased by more than 5 % since the beginning of February, the second month of the year is a very historical origin. This is especially true for February, which comes after a half year, like the current stock.
In 2021, BTC increased by approximately 37 % in February; In 2017, her gains were 23 % more humble, while in 2013, the cryptocurrency jumped by approximately 62 %.
However, history is not an indication of future prices, but it tends to jump at times.
Binance Free $ 600 (Full Details).
Limited offer for Cryptopotato readers in Bybit: Use this link to register and open a $ 500 free site on any coin!
Relationship: The information in Cryptopotato is the one that has been transferred. Cryptopotato’s opinions are not about whether any investments will be purchased, sold or held. It is recommended to make your own search before making any investment decisions. Use the information provided at your own responsibility. See evacuation of responsibility for more information.
Crossed currency plans By TradingView.
