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Bitcoin (BTC) Price Analysis for February 4

Sat, 02/04/2023 - 14:13
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Denys Serhiichuk
Does Bitcoin (BTC) still remain bullish?
Bitcoin (BTC) Price Analysis for February 4
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Bulls are not giving up as all the top 10 coins are in the green zone.

Top 10 coins by CoinMarketCap


The rate of Bitcoin (BTC) has almost not changed since yesterday, going up by 0.06%.

BTC/USD chart by TradingView

On the hourly chart, the price of Bitcoin (BTC) has broken the local resistance at $23,460. If buyers can hold the gained initiative, growth may continue to the $23,700-$23,800 zone until the end of the day, as enough energy has been accumulated for such a move.

BTC/USD chart by TradingView

On the bigger time frame, the price keeps trading in the wide channel as neither side has accumulated enough power for a further sharp move.

Ethereum (ETH) Price Analysis for February 3

However, if the rate returns to the $24,000 zone, the growth may lead to a test of the resistance at $25,212 soon.

BTC/USD chart by TradingView

From the midterm point of view, the rate has made a false breakout of the $23,954 mark, which means that buyers might have found some obstacles on the way. In this case, the more likely scenario is sideways trading in the range of $23,000-$24,000 for the next week.

Bitcoin is trading at $23,515 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at