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05.02.2025 05:00 PM
Trading Signals for BITCOIN (BTC/USD) for February 5-9, 2025: buy above $98,000 (21 SMA - 200 EMA)

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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.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
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