The market is finally showing signs of recovery as we enter the second half of February, a period that has historically been bullish in previous cycles. Will this February also close on a bullish note, or will this year break the trend? In this roundup, we’ll explore the possibilities.
7 Days Heatmap
After rejecting the lower bound of its range, the bulls are finally gaining momentum, pushing BTC and nearly all altcoins to a strong bullish close for the week.
BTC Analysis
In our last BTC analysis, it rejected the $91,000 level, which aligns with the lower bound of the falling blue and red channels.
As long as this intersection holds, the bulls will maintain the upper hand.
For bullish momentum to persist in the medium term, a breakout above the upper blue trendline and the $100,000 level is required.
In parallel, if the $91,000 level breaks downward, further downside pressure in the crypto market is likely.
ETH Analysis
ETH also bounced off the $2,500 support level, as anticipated in our last market outlook.
For the bulls to maintain control and push toward the $3,000–$3,100 resistance zone, a breakout above the orange structure at $2,805 is required.
Meanwhile, as ETH retests the $2,400–$2,500 support zone, we will be watching for new short-term long opportunities.
Quote of the week
Sheer will and determination is no substitute for something that actually works.
~ Jason Klatt
Closing Remarks
In summary, the market is showing signs of recovery as we enter the second half of February, a historically bullish period.
BTC has rejected the $91,000 level, aligning with key support, keeping the bulls in control for now. A breakout above $100,000 is needed for sustained momentum, while a breakdown below $91,000 could trigger further downside.
ETH has also bounced off the $2,500 support level, with the next key resistance at $3,000–$3,100. For bullish continuation, a break above $2,805 is required. As ETH retests the $2,400–$2,500 zone, short-term long opportunities may arise.
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