Bitcoin Preparing For A February Rally? Analyst Says New High Is Two Weeks Away

Rubmar Garcia

4 months ago

3 mins read

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After starting the week with a red Monday, Bitcoin (BTC) has recovered the $100,000 zone, registering a 4% recovery from yesterday’s lows. Following its recovery, some crypto analysts suggested that BTC could be getting ready for a February pump.

Choppy January, Double-Digit February?

On Monday, the crypto market suffered a shakeout generated by the broader sell-off ignited by DeepSeek’s Artificial Intelligence (AI) news. Altcoins like Ethereum (ETH) and Solana (SOL) fell 8.4% and 15%, respectively, while Bitcoin dropped 5%.

The flagship cryptocurrency fell below the $100,000 mark for the first time in over a week, dipping to $98,000 on Monday. However, it has experienced a strong rebound, recovering the crucial support zone as the day ended.

After surging to $102,000 on Tuesday morning, Bitcoin has been unable to reclaim $103,000, moving sideways within the $102,000-$102,990 price range throughout the day.

Trader Daan Crypto noted that Bitcoin continued moving in the mid-zone of its post-election range despite the drop. “Right back into the high-volume area within this range. Doesn’t seem like the $100K mark is left behind so easily just yet,” he wrote.

Daan considers that as long as Bitcoin doesn’t break below or above $90,000 or $108,000, the price will continue with its “decent but choppy” performance. However, he suggested that Bitcoin could have a better price action next month based on its historical performance.

The trader points out that February has been historically BTC’s second-best month, only behind October. In the last 12 years, Bitcoin has seen a green performance during this month 10 times, registering up to 61% monthly return, according to CloinGlass data.

Similarly, Rekt Capital stated that in its post-halving years, Bitcoin saw a double-digit profit in February, with 61% in 2013, 23% in 2017, and 36% in 2021. The analysts added that “8 out of the past 12 February dating back to 2013 have produced double-digit upside.”

Bitcoin Next Leg Up Coming Soon

Rekt Capital also considers that BTC is preparing for its next leg up. The analyst explained that Bitcoin completed its first post-halving Price Discovery Uptrend and first Price Discovery Uptrend Correction.

This suggests that BTC “should be able to embark on its second Price Discovery Uptrend to new highs” in the next two weeks. According to Rekt Capital, the second phase historically starts during week 16 of Bitcoin’s Parabolic Phase, with Bitcoin currently starting the 14th week.

“In Week 14 of the 2017 cycle, Bitcoin was recovering from its first Price Discovery Correction only to make new highs in Week 16 In Week 14 of the 2021 cycle, Bitcoin was still just bottoming on its first Price Discovery Correction only to make new highs in Week 16,” the analyst detailed.

As a result, Rekt Capital suggests investor “Patienlly HODL” for the next two weeks, as “confirmation Of The 2nd Price Discovery Uptrend” is set to start next month.

Moreover, Bitcoin’s Monday close above $101,200 developed a “new early-stage Higher Low,” which could see the price “consolidate further here to as high as the Range High at $106,200” if it continues to hold above this level.

bitcoin, btc, btcusdt — Bitcoin’s performance in the one-week chart. Source: BTCUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

Rubmar Garcia

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies –or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages – currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

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