Bitcoin (BTC) remains stuck in a tight range, struggling to break resistance despite recent bullish sentiment. Even Trump’s Crypto Czar, David Sacks, calling BTC an “excellent store of value” has failed to spark momentum.
Currently trading between $97,700 support and $99,500 resistance, BTC’s next move could determine whether it drops lower or makes another push toward $100,000.
Bearish Signals Strengthen as BTC Struggles
BTC’s Directional Movement Index (DMI) indicates sellers are regaining control. The Average Directional Index (ADX) has dropped to 25.8 from 35.8, signaling weakening trend strength.
Additionally, the +DI has declined from 22.5 to 16.7, reflecting fading bullish momentum, while the -DI has increased from 25.8 to 27.9, suggesting growing bearish pressure.
If ADX drops below 25, Bitcoin could enter a consolidation phase, reducing volatility unless a new catalyst emerges.
Bitcoin Whales Show Mixed Signals
The number of BTC whale addresses (holding at least 1,000 BTC) has increased to 2,041, recovering from 2,034 on January 29. However, this is still well below the recent high of 2,067, signaling weak accumulation.
Whale activity is crucial for market stability and upward momentum. If whale numbers continue rising, it could strengthen BTC’s recovery. But if they stagnate or decline, it may suggest large investors remain cautious.
BTC Price Outlook: Can It Reclaim $100,000?
Bitcoin’s technical structure remains bearish, with short-term EMAs below long-term ones, signaling downside pressure.
- If BTC breaks below $97,700, it could test $95,783 next. A stronger sell-off could push it to $91,266, its lowest level since mid-January.
- If BTC clears $99,500 resistance, momentum could shift bullish. A breakout above $101,300 could send BTC toward $106,300, paving the way for a new all-time high of $110,000 in February.
