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Strike Gold by Sharing Your TradFi Orders and Pictures!
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Can Bitcoin's 17% retracement lead to a February rally? Here's what historical data says
【Crypto World】 Recently, Bitcoin experienced a decline, dropping by 17.4%. The rebound momentum still seems insufficient. However, based on historical patterns, February is often a good month for Bitcoin—average gains can reach 14.3%.
Currently, Bitcoin is repeatedly testing the $86,000-$88,000 range. Interestingly, this level is expected to form a double bottom. Once stabilized, the rebound potential could be significant. Conservatively estimated, if Bitcoin can rise about 12.2% in February, it could reach around $99,500; if it replicates the 2023 rally, it might hit $109,500.
Of course, historical patterns are just a reference. The key factors are whether this support level can hold and the overall market capital flow. In any case, February’s performance is worth paying close attention to.