The technical charts for Bitcoin show that there are bullish signals at multi-month lows, giving hope to cryptocurrency bulls. The price decline for BTC has halted at the 200-day simple moving average support level, and the daily candles for Tuesday and Friday indicate bear failures below this level. This suggests that sellers initially pushed prices below the average but were unable to maintain control due to buyers stepping in to protect the support level. This pattern, known as a potential bullish reversal, indicates weakening selling pressure and the possibility of a renewed bullish phase. BTC could potentially bounce back to around $95,000 and set sights on reaching $100,000. However, if the 200-day SMA is broken, there could be further losses.



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