The currency returns to the highlands that exceed 97 thousand dollars: Is 100 thousand dollars the next station?
With a sudden recovery overnight, Bitcoin returned over the mark of $ 97,000. On the occasion of a 0.6 % recovery, the BTC price is traded with a market value of $ 97226.
Despite the short -term recovery that hints to a potential bounce, the Foundation supports a bitcoin. Amid such conditions, will the BTC price be able to reach a brand of $ 100,000? Let’s discover.
Bitcoin work and technical analysis
In the daily graph, the BTC price trend displays a bullish reflection of the local support direction line. This complements a bullish reflection with the morning star style.
When completing the morning star style, Bitcoin made a hard candle by 1.08 % to reach a level of 38.20 % Fibonacci. The price of this level is at $ 96,612.
Recovery during the day by 0.58 %, which leads to an increase in the BTC price to $ 97,000, completing an outbreak above the level of 38.20 % Vibonacci. Currently, the Bitcoin recovery process aims to reach the Fibonacci level by 50 % at 98,490 dollars.
With two consecutive upward candles, the momentum is clearly increasing. Moreover, the daily RSI line approaches the mid -road level, which reflects an increase in momentum.
BTC price goals
With the Bitcoin rising from the local support line, it is now challenging EMA for 20 days at a price of 97,543 dollars. The last intersection between EMA lines for 20 days and 50 days reflects the short -term reflection of Bitcoin.
However, the upper continuation over EMA for 50 days at 97,817 dollars will restore the upper alignment. According to Fibonacci levels, the collapse of more than the Fibonacci level is possible by 50 % of Bitcoin’s chances to restore a brand of $ 100,000.
On the other hand, the decisive support levels of Bitcoin remain a domestic support direction line near the $ 96,000 brand and the horizontal level of $ 94377.
ETF flows out of their fears amid BTC recovery
Although the bitcoin price that reflects a possible transformation, Bitcoin is the US spot ETFS It recorded a net flow on February 19. Of the 12 -year -old Bitcoin on the American market, 4 net flows recorded, while the rest of the traded investment funds have maintained a net script.
The largest seller was Fidelity, with an external flow of 48.69 million dollars, Falki, ARK and 21 shares, and Vaneck led the pure flow to 71.07 million dollars. Despite the short -term discharge phase on the ETF market, ETFS in the United States owns $ 112.59 million from Bitcoin. This represents 5.90 % of the maximum bitcoin market.
