Critical Levels for Bitcoin & Ethereum

Which technical levels every trader must watch now.

Author

Markus Thielen
February 02, 2025

👇1-14) While not all signals were bullish, there were enough positive indicators to support expectations of a Bitcoin breakout. On Friday, Bitcoin nearly broke out, but Trump’s signing and implementation of the first round of tariffs triggered a market pullback.

👇2-14) While market structure indicators are typically key drivers of Bitcoin’s short-term movements, medium-term signals—such as on-chain data and our breakout model—remain more constructive. In contrast, Ethereum has shown weaker fundamentals, with low revenues and declining Gas fees, signaling greater downside risk (see last week’s bearish ETH report).

 Ethereum broke the triangle do the downside.

👇3-14) The implementation of Trump's tariffs on February 1 should have been largely priced in by the market, yet it still derailed the Bitcoin rally, putting key technical support levels at risk. While these tariffs were widely known, the market had been primarily fixated on the DeepSeek saga, seemingly underestimating the geopolitical response and push back from foreign leaders threatening retaliation of those tariffs.

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