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Prediction Bitcoin this week, 3-02-2025

Greetings to you on the crypto site. My name is Viktor and today I will share my opinion about #bitcoin, #btc-usdt, using the TradingView service, here Prediction Bitcoin this week, 3-02-2025

Prediction Bitcoin

February 3, 2025, Monday. As always, we look at Bitcoin and analyze the main factors affecting its movement. Let’s look at the key charts, discuss yesterday’s decline and briefly touch on the topic of altcoins.

Where do we communicate?

The main page of my video channel. Yesterday, a useful video was released in which I dealt with trailing stops in detail. This video is worth watching for anyone who wants to better understand this mechanism. I have long wanted to study it, now I have shared my conclusions with you.

I also publish my thoughts about the market every day via the Edge browser. Yes, a voice would be better, but there is not enough time. So either that or nothing. If you are more comfortable reading, go to the “Community” section on YouTube. You actively vote and comment, so we will continue this format.

Telegram also remains one of the main platforms for discussion. But Discord is still quite quiet, but there is a good opportunity for communication in Ukrainian. I hope it will come to life, just like our YouTube channel.

Bitcoin Analysis: What Do the Charts Show?

Let’s go to the Bitcoin Analytics page. Here, forecasts are updated to help you navigate the market.
Fear and Greed Index – 47. The market is still in a state of fear.
Technical indicators – 14% of traders are selling, 10% are watching and only 2% are buying.
Monthly statistics – I expect a transition to the green zone with strong growth.

We have already seen such dynamics: the first week of the month – a decline, then a pullback and growth. The trend has not yet been broken.

Buying Risk and Market Sentiment

The risk of entering transactions is low now, since Bitcoin and top altcoins are in the green zone. This is a great moment for long-term investors.

Regarding trader sentiment:

Two main opinions – either growth or further decline.

Altcoins show an index of 45, which does not signal the beginning of the alt season.
Altcoins fell yesterday, but remain within historical levels.

Factors influencing Bitcoin

Gold and S&P 500 – both assets lost 0.5% per day, but their overall trend remains positive.
Bitcoin dominance – is growing, although the asset itself is declining. This means that traders are switching from altcoins to BTC.
USDT – capital inflow is recorded, which indicates an outflow of funds from altcoins to stablecoins.

Should we worry about the fall of altcoins?

No, because such phases have already occurred. For example, in the summer of 2023, we observed a similar situation. The main question is – when will the reversal occur?
Indicators indicate that altcoins are currently in the oversold zone, and this is a signal for potential growth. Who knows, maybe we are already close to the bottom.

Total crypto market capitalization

The total amount of funds in crypto has decreased as investors are moving into USDT or other stablecoins.
In Europe, USDC is used more, because the regulation does not approve of USDT.

Long-term forecast

Globally, the trend is still up. Two possible models:
Rapid growth in February-March → test 130-160 thousand → reversal.
Slower growth → correction will drag on until autumn.
Is it time for alt season?
Not yet. But now is the phase of maximum distrust. It is at such moments that many sell their assets for nothing, and then the market explodes.

If you believe in the prospects of alts – watch for reversal signals.

Weekly forecast

90-103K – accumulation zone.
If we break 106K, rapid growth is possible.
I expect to see the first signs of recovery this week.

Daily chart and key levels

The main support level is 91K. It has been tested several times, but the price quickly bounced back.
The next key level is 106K. Its breakthrough will open the way to new highs.

Summary

The market is still in the fear zone, but this is an opportunity for long-term investors.
Altcoins in the oversold zone are a good time for cautious purchases.
Bitcoin can still fall, but the global trend remains upward.
We are waiting for a reversal, but key levels still need to be confirmed.

If you found it useful – like, comment and join the crypto community!