Bitcoin Stalls: Is a Market Correction Looming? In-Depth Technical Analysis for February 11, 2025

After falling to $91,350, Bitcoin has sparked interest from buyers, maintaining its price. Discover Elyfe’s analysis to decode the technical outlook of BTC.

Bitcoin (BTC) Price Situation

After diving towards the support of $91,350, the price of Bitcoin benefited from buyer interest, allowing it to rebound and re-enter the $100,000 zone. Unfortunately, the cryptocurrency failed to break this threshold. Nevertheless, BTC has managed to hold above $95,000, demonstrating a strong buyer support.

At the time of writing, Bitcoin is trading around $98,200. It is located under a significant value zone, encompassing its annual VWAP, situated at the same level as its monthly pivot point at $100,335. Although the short-term trend remains bearish, medium and long-term trends remain bullish. This observation is illustrated by the positioning of the 50 and 200-day moving averages, which are crossed and oriented upwards.

On the bullish momentum side of Bitcoin, it has been revised downwards but now seems to be stabilizing, allowing for the possibility of an upcoming rebound. This is reflected in both its price and its oscillators.

The current technical analysis has been conducted in collaboration with Elyfe, a cryptocurrency market investor and educator.

Focus on Derivatives (BTC/USDT)

The open interest and funding rate of the BTC/USDT perpetual contracts have recently been revised upwards, accompanying the appreciation of their underlying price. This reflects a strong buyer interest, influencing the direction of Bitcoin.

The CVD analysis shows that it remains in a bearish trend, although it displays signs of stabilization. This suggests a predominance of sell orders, but with pressure gradually tending to ease.

Liquidations have remained limited on both sides of the market since the last Bitcoin correction, with no significant movement for either buyers or sellers. This situation reflects a stable market, controlled volatility, and cautious risk management, indicating a certain balance. However, this state of stability cannot last indefinitely and deserves particular attention, as a rebound in volatility could occur soon.

The liquidation heatmap of BTC/USDT perpetual contracts shows that Bitcoin reached a significant liquidation zone below $96,000, before seeing its price rebound. This price level has thus attracted notable buyer interest.

Currently, the most significant liquidation zones above the current BTC price are located between $100,000 and $104,000. Higher up, an even more marked zone appears between $106,500 and $111,000. In contrast, below the current price, the most important liquidation zones are first found below $95,000, with a more subtle area around $90,000. However, the most notable is around $88,000.

If the price approaches these levels, it could trigger a large number of orders, thus increasing the risk of volatility for the cryptocurrency. Therefore, these zones represent crucial points of interest for investors.

Forecasts for Bitcoin (BTC) Price

• If Bitcoin can maintain above $94,000, a recovery could allow it to break past $100,335, thus paving the way towards $102,500. Breaking this threshold could then favor a return towards $106,000, and then towards its ATH of $109,354, representing an increase of around 12%.

• Conversely, if Bitcoin fails to hold above $94,000, it may find support around $92,200. A prolonged decline would then bring its price back towards the support of $90,000. Finally, breaking this level could lead to a further drop towards the $88,000 — $89,000 zone, or even down to $85,000, representing a decrease of approximately 13%.

Conclusion

Despite a correction phase, Bitcoin shows signs of stabilization and retains rebound potential. Buyers remain present, indicating a possible bullish recovery in upcoming movements. In this context, it will be essential to closely monitor price reactions at strategic levels to confirm or adjust current forecasts. Finally, let’s remember that these analyses are based solely on technical criteria, and the price of cryptocurrencies can evolve rapidly based on other more fundamental factors.

Did you find this study interesting? Check out our latest analysis from February 6.