Bitcoin (BTC) Price Analysis: Rebound After Falling to $95,678

The price of Bitcoin (BTC) has rebounded after falling to $95,678. BTC price analysis on February 8, 2025 by Coinidol.com.

Bitcoin (BTC) price fell to $95,678 before recovering. Here’s a price analysis by Coinidol.com for February 8, 2025.

BTC price analysis on February 8, 2025 by Coinidol.com.

BTC’s price analysis shows a bearish long-term prediction.

The bullish momentum approached the 21-day SMA after breaking above the 50-day SMA. If BTC breaches the moving average lines, it will reach the historical highs of $104,000 and $108,000.

However, if Bitcoin faces rejection at the recent high, it will enter the downtrend zone. Bitcoin will trade below the moving average lines but above the $95,000 support.

Today, the Bitcoin price dropped to a low of $98,868 after retesting the psychological price level of $100,000.

BTC price indicator analysis

The Bitcoin price is currently below the moving average lines after making a false break above the 50-day SMA but failed to move higher.

After the false breakout, the Bitcoin price became stuck between the moving average lines on the 4-hour chart.

Technical indicators

Key supply zones: $108,000, $109,000, $110,000

Key demand zones: $90,000, $80,000, $70,000

What is the next step for Bitcoin?

Bitcoin has been trading above the $95,000 support and below the moving average lines since February 3. The bullish momentum on the 4-hour chart broke above the moving average lines and was rejected at the $100,000 high.

According to the price analysis by Coinido.com, currently, the Bitcoin price is above the 21-day SMA but below the 50-day SMA. BTC will turn into a trend if one of the moving average lines is broken.