05.02.202517:00 Forex Analysis & Reviews: Trading Signals for BITCOIN (BTC/USD) for February 5-9, 2025: buy above $98,000 (21 SMA - 200 EMA)

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Early in the American session, BTC/USD is trading around 98,229 with a technical correction forming a bullish pennant pattern, which will be confirmed only in case a break above 98,500 occurs.

BTC is expected to continue rising in the next few hours until it reaches the top of the bearish channel at 102,400. This level is key: if the BTC price reaches this level it could be seen as an opportunity to sell with targets at $90,000.

On the contrary, if the BTC/USD price consolidates above 103,000, it will be seen as a bullish signal with a target at 106,250. Eventually, th crypto could reach +2/8 Murray at $112,500.

Our trading plan for the next few hours is to buy above 98,000 with targets at 100,400 and finally at 102,400. The eagle indicator is reaching oversold levels.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.