Market Overview
Bitcoin experienced significant volatility during the week of February 3-9, 2025. Based on the available data:
- February 3, 2025: $97,568.32 (opening price)
- February 9, 2025: $96,558.24 (closing price)
The cryptocurrency showed notable fluctuations throughout the week, with prices reaching a high of $102,382.40 on February 1 before retracing. By February 9, Bitcoin had settled at $96,558.24, representing a slight decline of approximately 1.03% over the 7-day period.
Technical Indicators
The price action during this week formed a potential bullish flag pattern, which could indicate another breakout if momentum sustains. Bitcoin remained above key moving averages (50-day and 200-day), suggesting an overall bullish trend. The Relative Strength Index (RSI) likely hovered in neutral territory, reflecting the consolidation phase.
Short-term Price Predictions
Given the current market structure and technical setup, Bitcoin may continue to consolidate in the $94,000-$100,000 range in the short term. A break above $100,335 could pave the way towards $102,500. However, if support at $94,000 fails, we might see a retest of lower levels around $91,350.
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