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Bitcoin Price Pulls Back Again: Key Support Levels to Watch

Bitcoin price started another decline from the $102,500 zone. BTC is trimming gains and struggling to stay above the $96,500 support zone. Bitcoin started a fresh decline below the $100,000 level. The price is trading below $99,500 and the 100 hourly Simple moving average. There is a new connecting bearish trend line forming with resistance at $99,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $95,500 zone. Bitcoin Price Dips Below $100,000 Bitcoin price failed to continue higher above the $102,500 zone . It started another decline below the $100,000 zone. BTC gained bearish momentum for a move below the $98,500 and $97,500 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $91,000 swing low to the $102,500 high. The price even tested the $96,500 support zone and is currently consolidating losses . There is also a new connecting bearish trend line forming with resistance at $99,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $98,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $98,000 level. The first key resistance is near the $99,000 level. The next key resistance could be $100,000. A close above the $100,000 resistance might send the price further higher. In the stated case, the price could rise and test the $102,500 resistance level. Any more gains might send the price toward the $103,500 level. More Losses In BTC? If Bitcoin fails to rise above the $99,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $96,500 level. The first major support is near the $95,500 level or the 61.8% Fib retracement level of the upward move from the $91,000 swing low to the $102,500 high. The next support is now near the $93,750 zone. Any more losses might send the price toward the $95,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $96,500, followed by $95,500. Major Resistance Levels – $99,000 and $100,000. Decrypt

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Key Indicator Signals DCA Opportunity Amid Bitcoin Buyer Momentum

Bitcoin price performance over the past week has been marked by volatility and mixed signals for investors. After briefly rising above the $100,000 price mark on Tuesday, BTC has since fallen back and now hovers just above $99,000. The rebound that initially raised market sentiment appears to have been short-lived, as the cryptocurrency struggles to regain the upward momentum needed to break through higher resistance levels. Related Reading: Why Bitcoin’s Price Crash Could Be a Buying Opportunity for Big Players Bitcoin Smart DCA Flashes—What This Means While BTC faces these ups and downs, Darkfost, a contributor on CryptoQuant’s QuickTake platform, highlighted a potential opportunity for investors employing a dollar-cost averaging (DCA) strategy. According to Darkfost, the Smart DCA indicator was recently triggered, suggesting that current price levels may be a “favorable” entry point for those looking to accumulate BTC over time. Darkfost explained that by comparing Bitcoin’s average price to its short-term realized price—ranging from one week to one month—this indicator aims to identify optimal zones for long-term accumulation. The analyst added: When executed properly, a DCA strategy can generate substantial returns in the short, mid, or long term, depending on the investor’s goals. However, this indicator should be used alongside other metrics and a broader market analysis for optimal accuracy and effectiveness. Signs of Bullish Momentum Emerge While short-term price fluctuations have rattled some investors, other analysts point to underlying trends that hint at bullish potential. Another CryptoQuant analyst, Onatt, observed that buyer activity is beginning to outweigh selling pressure. Related Reading: After The Bitcoin Crash: Will It Rise Or Drop Again? 5 Key Indicators Using data from Coinbase, Onatt noted a visible premium indicating strong demand for Bitcoin, even in the face of recent volatility. Furthermore, negative funding rates—driven by approximately $2 billion in long liquidations—suggest a market environment where buyers are taking advantage of discounted prices to position themselves for a potential upward movement. Onatt also explained: Bitcoin’s upward momentum remains likely as long as USDT dominance stays below 4.65%, signaling continued market confidence and potential for further recovery. Adding to this sentiment, analyst Ali identified a critical demand zone for Bitcoin between $96,475 and $99,360. According to Ali, as long as this range holds as a support level, the market outlook favors the bulls. A breakout above the $102,350 to $103,900 supply zone could further strengthen the bullish case, potentially setting the stage for a sustained recovery. #Bitcoin $BTC has reclaimed a critical demand zone between $96,475 and $99,360 as support. As long as this level holds, the odds favor the bulls; especially if the $102,350–$103,900 supply wall breaks. pic.twitter.com/FLpwRqYVuu — Ali (@ali_charts) February 4, 2025 Featured image created with DALL-E, Chart from TradingView Decrypt