Will Trendline Breakout send BTC to $ 103,000?

Bitcoin settles above 96 thousand dollars, indicating a possible outbreak. Can BTC return to the supply zone of $ 103,000?

like Bitcoin The 96,000 dollar sign settles, the reflection hints inside the day in a strong rising return. Moreover, speculation in the encryption market indicates that there is a strong upward gathering where fear gradually fades.

Does this experimental gathering Bitcoin pay 103 thousand dollars? Let’s discover.

Bitcoin and major support levels

In the graph for 4 hours, the BTC price is finally ending the low low configuration chain with support at 38.2 % Vibonacci at $ 96700. With this price rejection, a short V -shaped reflection is formed.

Currently, Bitcoin is trading $ 98,242 and challenges the short -term resistance line. Besides the trend line, Bitcoin also faces an opposition from the Fibonacci level by 50 % at $ 98,611.

Chicin money flow and size analysis

Since Bitcoin aims to restart the formation of low high -tending, the Chaikin money flow reflects a slight rise in the flow because it maintains a positive path at 0.12. The bulls maintain a solid position.

Moreover, the higher and bottom size reveals a large recovery on the upper front, as it supports the size of 2x Up, the reflection of bitcoin prices. Consequently, the analysis of price work reveals a high possibility to attend the outbreak.

BTC ETF flow

Amid increasing optimism for bullish recovery in the Bitcoin Market, Institutional support Still strong, promotes upward momentum.

Blackrock led the daily net flows at $ 44.35 million, followed by Wisdomtree, an addition of $ 11.38 million, and sincerity to $ 10.65 million from Bitcoin.

Bitcoin derivatives expectations

Bitcoin Derivatives The market remains dramatically, although Bitcoin’s open interest has decreased to less than $ 60 billion. Currently, the open interest has increased by 1.43 % in the past 24 hours, reaching $ 59.65 billion.

However, over the past 24 hours, a long time has improved significantly. From 0.9841 to 1,0454, the number of budget players on the market is equivalent to the stadium.

Decreased financing rate – declining signal?

While the length to the palaces suggests an almost equal number of bulls and bears, the decrease in the financing rate indicates a stronger declining position.

The financing rate has decreased from 0.007 % to 0.0024 % over the past few hours. This indicates a potential transformation of momentum despite the comprehensive bullish feelings.

BTC price goals

The market expects a potential gathering as Bitcoin settles over $ 96,000 and shows signs of an upper reflection. Based on Fibonacci levels, the upper trend is likely to challenge the Fibonacci level by 78.6 % at 103,393 dollars.

However, the low financing rate indicates the constant declining pressure, making the amount of 94.3 thousand dollars supports a decisive level of viewing.