Bitcoin's Resurgence: Bulls Eye $100k as Price Surges Above $97k

Bitcoin Price Analysis and Prediction: February 10 - Bitcoin Stays Above $95k, Can Bulls Take Charge Again?

Bitcoin has shown signs of stability this week, following a period of intense selling. The cryptocurrency has experienced a 2% increase since yesterday, indicating a potential resumption of positive momentum. Despite appearing weak on the daily chart, Bitcoin has managed to suspend bearish pressure, with supply levels turning low. This shift has brought a sense of calm to the market, and Bitcoin is now poised to make its next move.

The calmness in the market comes after Bitcoin witnessed a quick rejection at the $91k level during last week's crash. Although it resumed its downward trajectory, it failed to dip below the $95k level due to low volatility. This level has since become a strong support for the cryptocurrency. Following a minor gain today, volatility has increased, and Bitcoin is now trading well above the $97k level. This has led to significant gains in mid-cap altcoins.

If Bitcoin closes well above the $97k level today, more recoveries can be expected in the coming days. This could potentially bring the price back above the $100k mark. However, if Bitcoin extends its bearish trend, it may experience another catastrophic loss, revisiting last week's low or even going beyond before climbing back. Considering the recent selling exhaustion and the latest gain, Bitcoin appears prepared for another leg up, which could propel the price to a new high.

Key resistance levels for Bitcoin include $99,550, $103,278, and $109,558. If the price increases above these levels, it could rally through the $106,500 resistance and reclaim the all-time high of $109,558 before breaking higher. On the other hand, if the price breaks below the $95k support level, it could slide back to the monthly $91,000 low. Losing this low could potentially push the price down to $90k and even $85,000.

As of now, Bitcoin's spot price is $97,548, with a bearish trend and low volatility. It is essential to conduct thorough research before making any trading or investment decisions in the cryptocurrency