Will the bulls return to 99 thousand dollars?

With Bitcoin returning to 95 thousand dollars in the declining hiccups, will BTC Bulls re -control the bullish trend?

After a rapid decline of 2.74 % in Bitcoin Prices over the past 24 hours, BTC has returned to trading at 95,500 dollars. This sudden withdrawal currently gets the psychological support of $ 95,000, and has led to a breakthrough of the market qualifiers 200 million dollars.

With the return of Bitcoin at a $ 95,000 crossroads, fears of major crash are re -accidents. Will the BTC price fail to carry its upscale momentum, or is this the perfect time to buy a decrease?

Bitcoin’s price analysis reveals the re -test on hand

On the daily pricing chart, Bitcoin shows a failure to reach the Fibonacci level by 50 % at 98,949 dollars, which led to a rapid reflection of the upper Bollenger Band near 98200 dollars, which is a pattern in the evening stars.

Since the rapid withdrawal reached a level of 38.20 % near 97,000 dollars, BTC has re -restored the level of $ 95,000. Taking support slightly higher than the 23.60 % Fibonacci level, Bitcoin is now combined near the lower Bollengerer range.

The rapid fall comes as a possible re -test of the recent broken resistance line. However, the severity of a very slippery slope is warned for bulls.

The approaching level of 23.60 % Fibonacci can increase the possibility of the BTC price to $ 90,000. On the other hand, the chances of recovery are indicated by the SMI Ergodic index.

With a climb on SMI lines, the index also sambs to a potential upward intersection. Moreover, SMI lines fluctuate near the zero line after a significant decline in negative lands.

This reflects the remarkable recovery in the upholstery and indicates a possible bounce.

ETF external flows and market morale

With Bitcoin drop to the critical support level, bitcoin us Part of the Investment Funds circulating A daily net flow recorded. On February 11, Etfs Spot Bitcoin bleeds $ 56.76 million, with five funds of investment funds traded in the market.

The only buyer was Blackrock, with a clear daily flow of $ 23.80 million. This reaches the net cumulative Blackrock flow from the beginning to 40.87 billion dollars, as the total net assets amounted to 55.83 billion dollars.

The sellers included Wisdomtree, BitWise, Invesco, Franklin and Fidelity. Fidelity was the largest seller per day, with an external flow of $ 43.60 million, while Franklin sold $ 11.03 million from Bitcoin.

The remaining three investment funds have cast less than $ 10 million each. Meanwhile, the other six investment funds in the American market recorded clear external flows.

Al -Mashtaqat and Al -Sawami speculation market

After the last withdrawal, the uniformity of the short term increased the upcoming speculation in bitcoin derivatives. The long/short ratio chart reveals a significant rise in bullish situations.

the rate It increased from 0.9135 to 1.1973, indicating that 54.49 % of positions are long. Meanwhile, short situations decreased to 45.51 %.

Moreover, although the last decrease in BTC prices, the Bitcoin OI financing rate remains significantly positive. The financing rate is currently 0.0072 %, which reflects the optimism of bitcoin traders in jobs by paying an additional allowance.

BTC price goals: 99 thousand dollars or 90 thousand dollars after that?

Given the budget expectations from Bitcoin and technical signals, buyers are likely to regain control, and may push Bitcoin again to the Fibonacci level by 50 % near the $ 99,000 sign.

On the other hand, if Bitcoin is closed less than $ 94,633, the possibility of an additional decrease is still significant. In this declining scenario, the Bitcoin price is likely to reconsider the level of $ 90,000.