BTC update - Feb 05 2025
As we all witnessed, BTC and the entire market had a sharp drop mainly because of the fear of a possible recession due to Trump's tariff war against multiple countries.
Despite the dump, not all hopes are lost yet. In case BTC manages to cross above the dotted white line and then 109,580 level, higher targets are within reach and we can say the sharp dump which led to a 2-3 billion dollars liquidation, was actually market makers' trick to gather as much liquidity as possible to fuel the upward move.
But if BTC crosses below the blue trendline and then the 89,000 zone, it will probably touch 81,900 - 84,400 zone and then the 73,000 zone. and this drop will be considered the retest of the 73,000 zone which was the ATH in the past. Given the price and vol divergence, this is a rather likely scenario.
Despite the dump, not all hopes are lost yet. In case BTC manages to cross above the dotted white line and then 109,580 level, higher targets are within reach and we can say the sharp dump which led to a 2-3 billion dollars liquidation, was actually market makers' trick to gather as much liquidity as possible to fuel the upward move.
But if BTC crosses below the blue trendline and then the 89,000 zone, it will probably touch 81,900 - 84,400 zone and then the 73,000 zone. and this drop will be considered the retest of the 73,000 zone which was the ATH in the past. Given the price and vol divergence, this is a rather likely scenario.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.