๐ Bitcoin Price Analysis: Bulls Eye $107K Amid Epic Comeback! ๐๐ฅ
๐น Bitcoin's V-Shaped Recovery
โ BTC has surged to $103K, bouncing back from a low of $97,750.
โ Key support at $98,611 (50% Fibonacci level) fueled the recovery.
โ Currently trading above the 200, 100, 50, and 20 EMA lines.
๐น Can Bitcoin Hit $107K?
๐ Immediate resistance at $103,393 (78.6% Fibonacci level).
๐ Bullish momentum could push BTC toward $107,123.
๐ RSI signals increasing demand, strengthening the uptrend.
๐น Institutional ETF Flows
๐ Spot Bitcoin ETFs saw $457.48M in net outflows.
๐ฐ BlackRock was the only buyer with $63.94M inflows.
๐ Fidelity & Grayscale led the sell-off, with $268.59M and $108.47M in outflows, respectively.
๐น Bitcoin Derivatives Market
๐ Open interest has climbed back to $66B.
๐ The long-to-short ratio has increased to 0.9681, signaling bullish sentiment.
๐ Funding rates rebounded to 0.0085%, suggesting strong momentum.
๐น Key BTC Price Levels to Watch
๐ Bullish Targets: ๐ $103,393 โ $107,123
๐ Support Levels: ๐ $100,000 โ $98,611
๐ข Disclaimer: This is not financial advice. Always do your research before investing.