Bitcoin Price Analysis: The Battle for $100K Inches Closer

Friday’s daily chart shows that bitcoin (BTC) recently reached a high of $109,356 before experiencing a strong pullback, establishing support at $89,164, and recovering into a consolidation range between $96,000 and $98,500. This suggests that the asset is stabilizing after a period of volatility, with buyers stepping in at lower levels while resistance remains untested near $100,000. The price action reflects a balance between demand and supply, as traders assess the next directional move.

BTC/USD 1D chart via Bitstamp on Feb. 14, 2025.

On the 4-hour chart, bitcoin remains in a sideways consolidation pattern with intermittent uptrends and downtrends. Resistance is currently identified at $102,569, while local support is holding around $91,530. The recent movement suggests a slight upward bias, but the price remains confined within a trading range. Until a breakout occurs, price action within this timeframe remains neutral, and traders will look for volume and volatility expansion to confirm a stronger directional move.

BTC/USD 4H chart via Bitstamp on Feb. 14, 2025.

Bitcoin’s price on the 1-hour chart highlights a more immediate bullish trend, with bitcoin reaching $98,784 after rebounding from a recent low of $94,091 per unit. Bullish candlestick formations suggest growing momentum, though the price remains near key resistance levels. A confirmed breakout above $99,200 could trigger further upside toward $100,000, while failure to hold above this level could result in a retest of lower support zones.

BTC/USD 1H chart via Bitstamp on Feb. 14, 2025.

Oscillators present mixed signals, with the relative strength index (RSI) at 49.5, the Stochastic at 46.7, the commodity channel index (CCI) at -36.6, the average directional index (ADX) at 28.0, and the awesome oscillator all indicating a neutral stance. Momentum is one of the few bullish indicators at 763.0, while the moving average convergence divergence (MACD) level is bearish at -880.8. These readings suggest that while upward momentum is present, confirmation from volume and price action will be needed for a sustained move.

Moving averages also provide conflicting signals, with the 10-period exponential moving average (EMA) at $97,663.9 and the 10-period simple moving average (SMA) at $96,895.2 indicating buying pressure. The 20-period EMA at $98,502.5 supports this trend, while the 20-period SMA at $99,168.0, the 30-period EMA at $98,797.8, and the 50-period SMA at $98,711.0 indicate potential selling pressure. Long-term moving averages, such as the 100-period EMA at $93,674.5 and the 200-period EMA at $84,547.6, suggest that the broader trend remains bullish, as the price continues to trade above these key support levels.

Bull Verdict:

Bitcoin remains in a consolidation phase, but the 1-hour and 4-hour charts indicate a potential breakout if price action holds above $98,800. Strong support from multiple moving averages, combined with bullish momentum on the shorter timeframes, suggests that a move toward $100,000 and beyond is possible. If bitcoin maintains higher lows and breaks key resistance at $102,500, further upside toward previous highs near $109,356 could be in play.

Bear Verdict:

Despite recent price stability, oscillators remain largely neutral, and resistance levels near $99,000 and $100,000 could cap upside movement. The 20-period and 30-period moving averages suggest selling pressure, and failure to hold support at $96,000 could lead to a breakdown toward $94,000 or even $91,500. If volume fails to support a breakout and price loses key short-term levels, a retest of $89,164 may become a realistic downside target.

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