🔥 $BTC Pullback Driven by ETF Outflows, Landing on EMA 99 for a Potential Jump!
$BTC is currently at $113,640 down from recent highs, likely influenced by the massive -$812.30M ETF net outflow on August 1st. On the daily chart, the price is pulling back and looks to be finding support at the EMA(99), currently at $107,800
🔰Potential Bullish Scenario:
🎯 A bounce from the EMA(99) could lead to a retest of recent highs in the $123,000 area.
Important Support Levels:
🛡️ $107,845 (the EMA(99) is the critical level to hold).
🛡️ $109,122 (a nearby support level).
If the EMA(99) fails to hold, a deeper correction could occur. The next move depends on buyer activity at this crucial support level.