FX.co ★ Trading Signals for BITCOIN (BTC/USD) for February 5-9, 2025: buy above $98,000 (21 SMA - 200 EMA)

Early in the American session, BTC/USD is trading around 98,229 with a technical correction forming a bullish pennant pattern, which will be confirmed only in case a break above 98,500 occurs.

BTC is expected to continue rising in the next few hours until it reaches the top of the bearish channel at 102,400. This level is key: if the BTC price reaches this level it could be seen as an opportunity to sell with targets at $90,000.

On the contrary, if the BTC/USD price consolidates above 103,000, it will be seen as a bullish signal with a target at 106,250. Eventually, th crypto could reach +2/8 Murray at $112,500.

Our trading plan for the next few hours is to buy above 98,000 with targets at 100,400 and finally at 102,400. The eagle indicator is reaching oversold levels.