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After having started a red Monday, Bitcoin (BTC) found the $ 100,000 zone, which registered a recovery of 4% compared to yesterday’s lows. After the recovery, some crypto analysts suggested that BTC can prepare for a pump in February.
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Jaspery January, double digits February?
On Monday, the cryptomarkt suffered a shake-out that was generated by the wider sale inflamed by Deepseek’s Artificial Intelligence (AI) news. Altcoins such as Ethereum (ETH) and Solana (SOL) fell 8.4%and 15%respectively, while Bitcoin fell by 5%.
The Cryptocurrency flagship fell for the first time in more than a week below $ 100,000 and fell to $ 98,000 on Monday. However, it has experienced a strong rebound and restored the crucial support zone as the day ended.
After rising to $ 102,000 on Tuesday morning, Bitcoin is unable to reclaim $ 103,000 and to move sideways all day within the price range of $ 102,000- $ 102,990.
Trader Daan Crypto noted that Bitcoin continued to move in the middle zone of his reach after the elections despite the decrease. “Immediately back in the high-volume area within this range. It seems that the $ 100k Mark is not so easy, “he wrote.
Daan believes that, as long as Bitcoin does not break under or above $ 90,000 or $ 108,000, the price will continue with his “decent but turbulent” performance. However, he suggested that Bitcoin could have a better price promotion next month based on the historical performance.
The trader points out that February has been historical BTCs on the second best month, only behind October. In the past 12 years, Bitcoin has seen a green performance 10 times during this month and registered up to 61% monthly return, according to data from CloingLass.
Likewise, Capital stained that Bitcoin in his post -rise years Bitcoin saw A profit with double digits in February, with 61% in 2013, 23% in 2017 and 36% in 2021. The analysts added that “8 of the last 12 February dating from 2013 with double digits.”
Bitcoin next leg will be coming soon
Capital is also of the opinion that BTC is preparing for his next leg. The analyst explained that Bitcoin completed his first mail distribution price discovery and first price-discovery correction.
This suggest That BTC “could start his second prize discovery to new highlights in the coming two weeks”. According to Rekt Capital, the second phase starts historically during week 16 of the parabolic phase of Bitcoin, with Bitcoin currently starting the 14th week.
“In week 14 of the 2017 cycle, Bitcoin recovered from his first price discovery correction to make new highlights in week 16 of week 14 of the 2021 cycle, Bitcoin was still just at the first prize discharge correction to make new highlights in week 16 ‘ , the analyst detailed.
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As a result, Capital is stretching suggest Investor “Patienllly Hodl” for the next two weeks, because “confirmation of the 2nd price discovery uptrend” has been set to start next month.
In addition, Bitcoin’s developed above $ 101,200 on Monday a “new early stage higher low”, which could see the price “further consolidates to as high as the range high at $ 106,200” if it retains above this level.
Featured image of unsplash.com, graph of TradingView.com