Jerome Powell

Bitcoin

Dogecoin

ApeCoin

Celestia

<img width="1920" height="1080" src="https://coingape.com/wp-content/uploads/2024/02/Bitcoin.jpeg" class="attachment-full size-full wp-post-image" alt="Crypto Price Prediction For February 31: BTC, APE, TIA" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/02/Bitcoin.jpeg 1920w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-300x169.jpeg 300w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-1224x689.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-768x432.jpeg 768w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-1536x864.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-678x381.jpeg 678w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-150x84.jpeg 150w" sizes="(max-width: 1920px) 100vw, 1920px">
Crypto Price Prediction: In January, the crypto market led by Bitcoin was on a rollercoaster. The anticipation for spot&nbsp;<a href="https://coingape.com/bitcoin-btc-futures-demand-dooms-as-investors-flock-to-etfs/" target="_blank" rel="noopener">BTC ETFs</a>&nbsp;in Q4 ignited a commendable rally even in altcoins. 
However, at the peak of the green light news from the Securities and Exchange Commission (SEC), a minor uptick in the&nbsp;<a href="https://coingape.com/markets/bitcoin-price-to-48000-as-pattern-end-correction/" target="_blank" rel="noopener">price of Bitcoin</a>&nbsp;to $49,000 culminated in sell-the-news activities and coupled with the subsequent market doldrums saw the largest digital asset plummet below $39,000. 
Although the last week of January was marked by widespread recoveries, Bitcoin is stuck under range resistance at $43,000. Similarly,&nbsp;<a href="https://coingape.com/markets/key-levels-to-watch-ethereum-price-recovery-2200/" target="_blank" rel="noopener">Ethereum</a>&nbsp;is back to trading in the range between $2,200 and $2,400 following a major spike to $28,000. 
For many traders, the pullback after the spot ETF approval was a significant setback. However, experts like the founder of MN Trading, Michaël van de Poppe reckons the correction is healthy and that the best way to navigate is to buy dips. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Jerome Powell spoke about lowering interest rates, but is going to implement this at a later point than the markets were expecting. 
 Let's face reality: rates and yields have peaked. The trend is downwards, which means that the dips are to be bought for the time being. <a href="https://t.co/oMy6ryUwiQ">pic.twitter.com/oMy6ryUwiQ</a> 
 — Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1753002753012465835?ref_src=twsrc%5Etfw">February 1, 2024</a>
</blockquote> 
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&nbsp; 
<h2 id="1-assessing-bitcoin-btc-price-technical-structure-are-dips-profitable">1. Assessing Bitcoin (BTC) Price Technical Structure, Are Dips Profitable?</h2> 
It is not an easy task to time market bottoms, especially in the crypto industry. Investors are safe to buy in key ranges following a correction from a recent peak. 
For instance, Bitcoin’s slump under $39,000 presented important buy zones. A dollar-cost averaging strategy if applied professionally would ensure that no dips are missed, especially with the&nbsp;<a href="https://coingape.com/halving/bitcoin-halving/" target="_blank" rel="noopener">halving</a>&nbsp;in a little over two months. 
Analysts at Rekt Capital pointed out via a post on X that while BTC rebounded above $43,000, it was not able to break the range resistance around $43,800. 
Reflecting this bearish outlook is the Relative Strength Index (RSI), which holds below its downtrend resistance. For Bitcoin to come out of the downtrend, the RSI needs to move higher. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> 
 Bitcoin was able to revisit its red Range High resistance (~$43800) but has since rejected to form a Lower High (black) 
 In the meantime, the RSI is still at its downtrend resistance 
 The RSI needs to break this downtrend if price is to move higher<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/da6foTzPwg">https://t.co/da6foTzPwg</a> <a href="https://t.co/S8e3lpxZyj">pic.twitter.com/S8e3lpxZyj</a> 
 — Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1753001780907008147?ref_src=twsrc%5Etfw">February 1, 2024</a>
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Support provided by the falling channel’s lower boundary may help keep Bitcoin buoyant above $42,000 but due to resistance at the 50 EMA and the 200 EMA, it would be a tall order to resume the uptrend. 
<figure id="attachment_177979" aria-describedby="caption-attachment-177979" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-177979" src="https://coingape.com/wp-content/uploads/2024/02/BTCUSD_2024-02-01_15-20-14.png" alt="BTC price chart" width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2024/02/BTCUSD_2024-02-01_15-20-14.png 2710w, https://coingape.com/wp-content/uploads/2024/02/BTCUSD_2024-02-01_15-20-14-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/02/BTCUSD_2024-02-01_15-20-14-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2024/02/BTCUSD_2024-02-01_15-20-14-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/02/BTCUSD_2024-02-01_15-20-14-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2024/02/BTCUSD_2024-02-01_15-20-14-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2024/02/BTCUSD_2024-02-01_15-20-14-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
 <figcaption id="caption-attachment-177979" class="wp-caption-text">
 BTC price chart | Tradingview
 </figcaption>
</figure> 
In the foreseeable future, Bitcoin price might settle between the colored bands on the chart consolidating. A pre-halving rally will break the trend, pushing for a debut above $50,000. 
Read also: <a href="https://coingape.com/markets/what-is-the-price-prediction-for-eth-in-february-2024/">What Is The Price Prediction For ETH In February 2024?</a> 
<h2 class="p1" id="apecoin-ape-price-on-the-move-above-1-5">ApeCoin (APE) Price On The Move Above $1.5</h2> 
Traders are doubling down on their efforts to buy into ApeCoin. In 24 hours, the web3 token increased 8% to $1.51, underlining the growing interest in the token backing a staggering 107% spike in the trading volume to $85 million. 
<a rel="nofollow" href="https://coinmarketcap.com/currencies/apecoin-ape/">ApeCoin</a>&nbsp;boasts a market cap of $558 million, placing it at #102 among other cryptocurrencies. 
A buy signal from the Moving Average Convergence Divergence (MACD) indicator crossover implies that the trend reversal is just getting started. 
With a break above the red band on the chart, APE could steady the uptrend to above $5. 
<figure id="attachment_177980" aria-describedby="caption-attachment-177980" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-177980" src="https://coingape.com/wp-content/uploads/2024/02/TIAUSD_2024-02-01_15-51-34.png" alt="APE price chart " width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2024/02/TIAUSD_2024-02-01_15-51-34.png 2710w, https://coingape.com/wp-content/uploads/2024/02/TIAUSD_2024-02-01_15-51-34-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/02/TIAUSD_2024-02-01_15-51-34-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2024/02/TIAUSD_2024-02-01_15-51-34-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/02/TIAUSD_2024-02-01_15-51-34-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2024/02/TIAUSD_2024-02-01_15-51-34-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2024/02/TIAUSD_2024-02-01_15-51-34-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
 <figcaption id="caption-attachment-177980" class="wp-caption-text">
 APE price chart | Tradingview
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</figure> 
Captain Faibik, a renowned trader agreed with APE’s bullish theory via a post on X. Based on the daily chart he shared, ApeCoin “seems like bottomed out &amp; ready to break the major trendline,” hinting at a massive move above $5. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/search?q=%24APE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$APE</a> <a href="https://twitter.com/hashtag/Apecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Apecoin</a> Seems like bottomed out &amp; Ready to Break the Major Trendline..<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/1GOtytFC2b">pic.twitter.com/1GOtytFC2b</a> 
 — Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1753003359081271613?ref_src=twsrc%5Etfw">February 1, 2024</a>
</blockquote> 
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<h2 class="p1" id="celestia-tia-eyes-20">Celestia (TIA) Eyes $20</h2> 
After retesting range low support at $15, TIA is holding at $16.75 during US business hours on Thursday. A narrowed technical outlook also places&nbsp;<a href="https://coingape.com/celestia-networks-tia-price-up-50-in-a-week-whats-behind-the-rally/" target="_blank" rel="noopener">Celestia</a>&nbsp;in a wide range between $15 and $18.5 (yellow band). 
Ascending to the range high resistance at $18.5 is possible but TIA could encounter delay at $17 — a confluence level formed by the 50 EMA and the 20 EMA. 
On the downside, the 20 EMA at $15.82 will come in handy to reduce the impact of the selling pressure toward the range of low support. 
Traders may want to closely watch out for a buy signal from the MACD. As the blue MACD line crosses above the red signal line, a signal to buy TIA will manifest. There’s a high probability Celestia will retest $20 in the next few days as opposed to sliding to $12. 
<h3 class="p1" id="related-articles">Related Articles</h3> 
<ul> 
 <li><a href="https://coingape.com/markets/will-sui-price-hit-new-all-time-high-in-february-amid-tvl-expansion/" target="_blank" rel="noopener">Will SUI Price Hit New All-Time High In February Amid TVL Expansion?&nbsp;</a></li> 
 <li><a href="https://coingape.com/markets/dogecoin-price-to-pump-to-1-in-february-if-network-activity-keeps-surging/" target="_blank" rel="noopener">Dogecoin Price To Pump To $1 In February If Network Activity Keeps Surging&nbsp;</a></li> 
 <li><a href="https://coingape.com/markets/top-3-altcoins-to-buy-today-january-31-ethereum-eth-xrp-dogecoin-doge/" target="_blank" rel="noopener">Top 3 Altcoins To Buy Today January 31: Ethereum (ETH), XRP, Dogecoin (DOGE)&nbsp;</a></li> 
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The post <a href="https://coingape.com/markets/crypto-price-prediction-for-february-1-btc-ape-tia/">Crypto Price Prediction For February 1: BTC, APE, TIA</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Crypto Price Prediction For February 1: BTC, APE, TIA

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