Bitcoin analysis reveals a possible collapse of $ 76,000: Is 67 thousand dollars the following?
As one of the worst weeks in the encryption market, the liquidation has increased over the past 24 hours to 954 million dollars. In the midst of the growing declining pressure, Bitcoin decreased by 5.79 %, and the market price trading is $ 79.735.
With another dumping candle and wealthy, Bitcoin represents its fourth row in a row this week. Will this deteriorating trend decrease the level of support of $ 6000? Let’s discover.
Bitcoin under the bears of the grip of the breaks 80 thousand dollars
In the daily graph, the declining trend continues after facing a declining reflection of the resistance level of $ 99,000. The falling trend led to a declining intersection of MACD and signal lines.
The descending graphs are appeared, indicating an increase in momentum. Moreover, via the daily RSI line to the sales lands.
The minimum level of 24 hours is recorded at 78197 dollars, with a lower price rejection. A potential side seizure can be seen before the support level 76,722 dollars.
Institutional external flows record $ 3.27 billion in eight days
Amid the low direction of bitcoin, institutional confidence continues to decrease. On February 27, The Daily Total Net Spown of Us Recister Bitcoin etfs He decreased at $ 275.83 million in external flows.
This represents the eighth consecutive day of the external flow in the American Spot market. Over the past eight days, external flows have formed a value of $ 3.27 billion in bitcoin.
On February 27, Bitwise remained the only ETF that recorded a $ 17.65 million flow. Blackrock recorded the huge external flow of $ 189.02 million, followed by Wisdomtree with $ 53.78 million of the external flow.
Bitcoin futures?
It also acquires the downside trend, bitcoin Liquidation Over the past 24 hours, up to 474.46 million dollars. The long liquidation represents $ 415.71 million. In the futures market, the financing rate is now 0.0113 %, which reflects an increase in the installment that bulls can push to keep their long functions.
It remains a long percentage at 0.9562, which reflects a slightly larger number of homosexuals in playing. In general, the open liquidation decreased by 7.64 % at 49.57 billion dollars.
Will the BTC price reach 67 thousand dollars?
According to price analysis, the fall is likely to test the support level of $ 76,722. However, ETF flows and the basic shift towards landing warns of a possible collapse.
Less $ 76,000 is highlighted from Bitcoin, near $ 67,000. However, the least refusal of rejection hints to a possible return to re -test the upper ceiling at $ 86,707.
