Bitcoin (BTC) has been trading below $100,000 since February 5, facing continued resistance despite attempts at recovery. Recent indicators suggest that sellers have gained control, with BTC’s Directional Movement Index (DMI) showing increased bearish pressure.

However, the Ichimoku Cloud points to a potential reversal if Bitcoin can break above key resistance zones. If bullish momentum returns, BTC could test the $97,756 resistance and possibly retake the $100,000 level, with $102,668 as the next target.

BTC DMI Shows that Sellers Gained Control In the Last 24 Hours

Bitcoin’s Directional Movement Index (DMI) shows its Average Directional Index (ADX) currently at 21.2, after briefly touching 22.9, rising from 15.5 two days ago.

ADX measures the strength of a trend without indicating its direction, ranging from 0 to 100. Typically, values above 25 indicate a strong trend, while values below 20 suggest a weak or ranging market.

With ADX hovering around 21.2, Bitcoin’s trend is relatively weak, signaling a potential transition period.

This suggests that the previous uptrend momentum is losing steam, possibly leading to a reversal or the beginning of a downtrend.

Meanwhile, Bitcoin’s +DI is at 15.5, down from 23.3 just one day ago, indicating a decline in bullish momentum, while -DI has climbed to 21.9 from 9.2, reflecting growing bearish pressure.

This crossover, where -DI has moved above +DI, indicates that sellers are gaining control over the market, potentially signaling a shift from an uptrend to a downtrend.

If -DI continues to rise and +DI remains weak, Bitcoin could see increased selling pressure and a potential price decline. However, if +DI stabilizes and rebounds, Bitcoin might consolidate before choosing a more definitive directional move.

Bitcoin Ichimoku Cloud Paints A Bearish Picture, But It Could Change Soon

The Ichimoku Cloud chart for Bitcoin shows a mixed outlook with early signs of potential recovery. The blue Tenkan-sen line is currently above the red Kijun-sen line.

This crossover suggests that buying pressure is trying to recover, which could support a potential upward move.

However, Bitcoin’s price is still below the Kumo cloud, signaling that the overall trend remains bearish and that resistance is strong above the current levels.

The Kumo cloud ahead is thin and slightly shifting upwards, suggesting that the bearish momentum might be weakening. If Bitcoin can break above the cloud, it would signal a potential trend reversal, especially if the Tenkan-sen continues to lead above the Kijun-sen.

Conversely, if Bitcoin fails to break above the cloud and the Tenkan-sen drops below the Kijun-sen again, it would confirm a continuation of the bearish trend.

For now, Bitcoin faces a crucial resistance zone, and the next move will depend on whether it can clear the cloud or get rejected downward.e

Bitcoin Could Return to $100,000 Very Soon

Bitcoin was on the verge of forming a new golden cross yesterday before the Bybit hack triggered a sharp price drop from $98,000 to roughly $95,000 within four hours.

Its Exponential Moving Average (EMA) lines are still bearish, with short-term EMAs positioned below long-term ones, indicating ongoing downward momentum.

This bearish setup suggests that selling pressure remains dominant. If sellers continue to control the market, Bitcoin could retest the support at $94,818, which was maintained during yesterday’s decline.

If this support breaks, Bitcoin could drop further to $93,415, and a continued downtrend could push it as low as $91,300.

However, if Bitcoin price manages to recover from this drop, there are signs that the downtrend may not be as strong as it seems.

Both the ADX and Ichimoku Cloud indicate weakening bearish momentum, suggesting that a reversal is possible. In this case, Bitcoin could test the resistance at $97,756, and if this level is broken, it could rise to $100,000.

Should the uptrend gain more momentum, Bitcoin could continue climbing to test $102,668, marking its highest levels since early February.

Hackers potentially took control of the official X account of Myanmar’s military junta leader on Saturday, using it to promote a fraudulent cryptocurrency.

This incident could be the part of a growing trend where scammers exploit high-profile political figures to add credibility to scam tokens, deceiving unsuspecting investors.

Another Political Crypto Scam Now Targeting the Myanmar Government

On February 22, the X (formerly Twitter) account belonging to Myanmar’s junta leader, Min Aung Hlaing, began posting about a so-called national cryptocurrency launch.

The posts described it as “Myanmar first national crypto,” attempting to present it as an official digital asset.

Crypto users on X quickly noticed irregularities. The hackers initially shared multiple cryptocurrency wallet addresses before deleting them.

Soon after, they claimed the launch was postponed and provided a new wallet address, raising further suspicion.

“This account from the government of Myanmar has been hacked . Dropped several CAs and deleted, as well as announcing a space then deleted 3 minutes later,” one user wrote on X.

Meanwhile, market observers questioned whether a military-led government could successfully launch a cryptocurrency. They noted that such an initiative contradicts the principles of decentralization.

One user pointed out that state-backed digital assets often serve as a tool for financial control rather than innovation. The analyst also speculated that countries under economic sanctions might explore cryptocurrency as a way to bypass traditional financial systems.

“Signals a shift: more nations exploring state-backed crypto to sidestep sanctions & SWIFT dependence Geopolitically, it’s a test case If it works, expect more isolated regimes to follow This isn’t about innovation but it’s about sovereignty vs financial gatekeeping,” Cedric Beau stated.

Meanwhile, this attack on Myanmar’s junta leader follows a broader pattern of cyber threats targeting political figures.

Earlier this month, the Central African Republic’s President, Faustin-Archange Touadéra, introduced an official meme coin called CAR. The token was meant to highlight the country’s confidence in blockchain technology.

While that initiative was legitimate, hackers have used similar tactics to deceive users by falsely linking government officials to fake token launches.

Just days ago, scammers impersonated Saudi Arabia’s Crown Prince Mohammed bin Salman to promote a fraudulent cryptocurrency.

In another case, anonymous hackers took over the X account of former Malaysian Prime Minister Mahathir Mohamad to push a fake meme coin.

These incidents reveal a troubling pattern of hackers hijacking political figures’ social media accounts to promote fraudulent cryptocurrency schemes. By exploiting their identities, scammers create a false sense of legitimacy for fake tokens.

As these scams become more common, users must stay vigilant and verify sources before engaging with any token promotions linked to public figures.

Kanye West, now known as Ye, has denied any involvement with the YZY tokens circulating in the market, asserting that he will introduce his own cryptocurrency next week.

This statement follows his earlier dismissal of any interest in digital assets, adding a fresh twist to the speculation surrounding his stance on crypto.

Kanye West Says Existing YZY Tokens Are Fake

In a post on February 22, Ye made it clear that he has no ties to the YZY tokens currently in circulation. He emphasized that all existing coins using his brand are illegitimate and reaffirmed his intention to launch his own cryptocurrency soon.

“All current coins are fake. I’m launching next week,” Ye wrote on X.

His announcement has sparked mixed reactions within the crypto community. Some critics believe his project could turn into another celebrity-backed rug pull.

Others pointed out that his latest move contradicts his earlier statement, where he distanced himself from launching any token. Meanwhile, some supporters advised him to time the launch carefully to avoid market volatility.

Nate Geraci, President of ETF Store, issued a warning to investors, stating that anyone choosing to invest in Ye’s crypto should be prepared for potential losses.

“If he (ye) launches and you buy & lose…it’s on you. Nobody to blame. I don’t want to hear about crypto regulation, rug pulls, scams, etc. It’s a wealth transfer from you to insiders. You’re spinning broken roulette wheel,” Geraci added.

Speculation Grows Around Ye’s Crypto Move

Ye’s announcement follows reports of multiple YZY-branded tokens appearing on the Solana-based launchpad Pump.fun. These developments fueled speculation that he was indeed planning a token launch.

Other reports claim that Ye is actively working on a YZY token linked to his Yeezy fashion brand. Publications like CoinDesk allegedly received a press release from Hussein Lalani, who is said to be Yeezy’s Chief Financial Officer, along with other sources familiar with the project.

Details surrounding the token’s structure indicate that Ye could control 70% of the supply, with 20% allocated to investors and 10% reserved for liquidity. A portion of his holdings would reportedly be subject to a one-year vesting period, preventing immediate access.

While an official launch date remains uncertain, speculation continues to build. Data from Polymarket, a decentralized prediction platform, currently suggests a 71% probability of the token debuting this month, with more than $18 million wagered on its release.

Ye’s latest move adds to the unpredictable phase of celebrity and political meme coins that’s plaguing the industry right now. Such endorsed tokens have caused notable chaos in the market in the past weeks.