{"id":20244,"date":"2023-02-06T08:20:36","date_gmt":"2023-02-06T08:20:36","guid":{"rendered":"https:\/\/zebpay.com\/au\/?p=20244"},"modified":"2023-02-06T08:20:37","modified_gmt":"2023-02-06T08:20:37","slug":"bitcoin-technical-analysis-report-06th-feb-2023","status":"publish","type":"post","link":"https:\/\/zebpay.com\/au\/blog\/bitcoin-technical-analysis-report-06th-feb-2023","title":{"rendered":"Bitcoin Technical Analysis Report | 06th-February-2023<\/strong>"},"content":{"rendered":"\n

After January’s impressive rally, Bitcoin appears to be taking a breather in February. This is a positive sign because vertical rallies are rarely sustained. A small drop can offer long-term investors an opportunity to add to their positions. The asset has gradually corrected since hitting $24,255 on February 2nd. This indicates that short-term traders are making gains. BTC is down by almost 3% while the global volume is up 27%. Bitcoin\u2019s market capitalization dominance is at 41.51%.<\/p>\n\n\n\n

At the time of writing, BTC<\/a> was trading at $22,785.<\/p>\n\n\n

\n
\"Bitcoin
Bitcoin (BTC) Chart<\/figcaption><\/figure><\/div>\n\n\n

BTC after making the low of $15,476 started trading in a range between $16,000 to $17,500. The asset finally gave a breakout above the range and started moving upwards forming a \u2018Higher High Higher Low\u2019 pattern and rallied up to $24,255. Post this move, BTC started consolidating in a \u2018Rising Channel\u2019 pattern where the upper sloping line is acting as a resistance and the lower sloping line of the channel is acting as a support. Breakouts on either side of the channel with good volumes will further decide the trend for the asset.<\/p>\n\n\n\n

Key Levels:<\/h2>\n\n\n\n
Support 2<\/strong><\/td>Support 1<\/strong><\/td>Asset<\/strong><\/td>Resistance 1<\/strong><\/td>Resistance 2.<\/strong><\/td><\/tr>
$17,500<\/td>$21,500<\/td>BTC<\/strong><\/td>$25,250<\/td>$28,500<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

After January’s impressive rally, Bitcoin appears to be taking a breather in February. This is a positive sign because vertical rallies are rarely sustained. A small drop can offer long-term investors an opportunity to add to their positions. The asset has gradually corrected since hitting $24,255 on February 2nd. This indicates that short-term traders are […]<\/p>\n","protected":false},"author":1,"featured_media":20245,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-20244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis"],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/20244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/comments?post=20244"}],"version-history":[{"count":1,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/20244\/revisions"}],"predecessor-version":[{"id":20247,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/20244\/revisions\/20247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/media\/20245"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/media?parent=20244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/categories?post=20244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/tags?post=20244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}