How long will Bitcoin’s price consolidation last?

Bitcoin price has been consolidating in a tight range between $93,300 to $98,500 since Feb. 5.

According to technical and onchain indicators, Bitcoin’s consolidation may be nearing an end, and the price could be on the verge of a breakout. The key question that remains is when Bitcoin will break out of consolidation.

Cryptocurrencies, Bitcoin Price, Bitcoin Analysis, Markets, Cryptocurrency Exchange — *BTC/USD daily chart. Source:* *TradingView*

Bitcoin price needs to reclaim $98,000 to end consolidation

Bitcoin may continue consolidating in its current range for a bit longer, particularly if the support at $98,000 is not reclaimed, says a crypto analyst.

In a Feb. 19 analysis on X, popular Bitcoin analyst Tyler Durden said:

Bitcoin price needed to rise above the $98,000 level, indicated by the orange line in the chart below, to confirm an upside breakout.
If this doesn’t happen, the consolidation might break on the downside toward $74,000.

“Needs to break orange this week, or it will leave the range and distribute back toward $74,000.”

For independent analyst Jelle, Bitcoin’s current consolidation cycle could continue until the end of February.

Jelle said:

Bitcoin price consolidates into a bullish pennant in the weekly timeframe.
BTC/USD weekly structure remains strong as long as it holds the lower trendline of the pennant, around $93,000.
A rally above the pennant could confirm a bullish breakout.
The consolidation cycle is likely to end in the “next two weeks,” after which BTC rallies to $140,000.

For fellow analyst Mark Cullen, Bitcoin’s move higher is pegged on reclaiming and holding the “mid-range at 96k,” which is also the weekly opening.

Bitcoin price consolidation is ending — Bollinger Bands

Anticipation of a breakout in BTC price lingers in the background, as suggested by Bitcoin’s volatility indicator.

Key points:

Tightening Bollinger Bands conditions indicate that a breakout might be very close.
The daily Bollinger Bandwidth is at an extremely oversold level, touching its lower green line.
The width of the Bollinger Bands is currently tighter than when Bitcoin was at $68,000 in November 2024.
BTC/USD then rallied 46% from $67,300 on Nov. 5 to $99,317 on Nov. 22.
The indicator was also this tight in January 2024, preceding a 94% rally in BTC price from $40,000 on Jan. 24, 2024, to $73,800 on March 14, 2024.

If history repeats itself, Bitcoin could soon break out of consolidation to stage a massive upward move over the next few days.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.