BTC fell below the $90,000 mark. Can I buy at the bottom now?

In-depth analysis of Bitcoin market

• Bitcoin Market Analysis

• Detailed explanation of transaction data

• Interpretation of technical indicators

• Trading Strategy Suggestions

• Strategy 1: Low-level rebound strategy

• Strategy 2: Short-term bearish strategy

• Bitcoin future trend forecast

Gate.io data shows that the current price of Bitcoin is US$89,386, with a 24-hour decline of -6.46%. Three months later, Bitcoin fell below the $90,000 mark again, and market panic spread. Bitcoin's market value is US$1.77 trillion, with a market share exceeding 61%, while Ethereum's market share fell below 10%.

Last week (2025.02.17-2025.02.23), Bitcoin ETF funds were net outflowed US$552 million, and there were capital outflows for two consecutive weeks. Since the beginning of 2025, the trend of slowing inflows of Bitcoin ETF funds has continued. Last week, the price of Bitcoin fluctuated narrowly in the range of $94,000 to $98,000, and the Bitcoin dominance (BTCD) remained above 60%. Technical analysis shows that BTCD may need to break through 65% before it can usher in a market reversal. On the news front, MicroStrategy continues to increase its holdings of $2 billion in Bitcoin. The market sentiment is sluggish and the wait-and-see sentiment is strong. The price of Bitcoin may continue to fluctuate and decline in the short term. The AHR999 index shows that the current Bitcoin price has entered the long-term fixed investment range for investors.

Bitcoin Market Analysis

Detailed explanation of transaction data

• Current price: 89,386.36 USDT
• 24-hour price fluctuation: -6.46%
• The highest price in 24 hours: 96,150.07 USDT
• 24-hour minimum price: 88,153.48 USDT
• Support level: 89,479.6 USDT
• Resistance level: 94,923.6 USDT
• Market sentiment: Extremely panic (Fear Greed Index 25)

Interpretation of technical indicators

• Bulsive signal: The Bollinger band is hit by the lower track, and a technical rebound may occur.
• Bearly signal: RSI indicator shows overbought and may face the risk of a pullback.

Trading Strategy Suggestions

Strategy 1: Low-level rebound strategy

• Trading direction: long
• Entry price: 89,500 USDT (near support)
• Stop loss price: 88,000 USDT (below support)
• Target price: 94,500 USDT (near resistance)

Strategic basis: The current market is full of panic, and there may be underestimation, and it has the potential to rebound. The lower track of the Bollinger Band touches, suggesting that the price may rebound. Entering near the support level is relatively low.

Strategy 2: Short-term bearish strategy

• Trading direction: Short
• Entry price: 93,000 USDT (near resistance)
• Stop loss price: 94,500 USDT (above resistance)
• Target price: 89,000 USDT (near support)

Strategic basis: RSI indicator shows overbought and the price may be pulled back. Enter near resistance and try to capture market reversal opportunities. Set a stop loss position to control risks to avoid losses caused by price breaking through the resistance level.

Bitcoin future trend forecast

Based on the current technical and market sentiment, the price of Bitcoin may continue to fluctuate and decline in the short term. BTCD may need to break through 65% to confirm the market reversal. At the same time, the price is close to the support level, and rebound opportunities still exist, and investors can make plans at low prices.

In short, Bitcoin is currently facing a volatile downward market environment, and short-term price trends may be affected by capital outflows and market sentiment. However, the price is close to the support level and the rebound potential still exists. Investors need to pay close attention to market changes and flexibly adjust their investment strategies.

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