Technical analysis by RedMegaMan about Symbol BTC on 2/12/2025

As of February 12, 2025, Bitcoin (BTC) is trading at approximately $94,795.00 USD, reflecting a decrease of about 2.03% from the previous close.Over the past week, Bitcoin has experienced a decline of approximately 1.58%, while its monthly performance shows a 1.87% increase. Notably, on January 20, 2025, Bitcoin reached its all-time high of $109,356 USD. TRADINGVIEW.COMRecent market movements have been influenced by geopolitical events, including the announcement of new U.S. tariffs on imports from Canada, Mexico, and China. These developments have raised concerns about potential inflationary pressures, which could impact the Federal Reserve's monetary policy and, consequently, the cryptocurrency market. INVESTOPEDIA.COMTechnical analysis indicates that Bitcoin is approaching key support levels around $92,000. A sustained drop below this threshold could lead to further declines, with potential support at $87,000 and $74,000. Conversely, a breakout above the $106,000 resistance level could signal a continuation of the upward trend. INVESTOPEDIA.COMPlease note that cryptocurrency markets are highly volatile, and prices can change rapidly. It's advisable to consult multiple sources and consider various factors when evaluating market conditions.