Bitcoin Could Swing Back to $95K Amid Signs of BTC Bear Exhaustion

Technical charts, particularly the shape of candlesticks, often reflect the psychology behind the market, highlighting trader sentiment and behavior. Since Friday, at least two bitcoin (BTC) candles have indicated bullish undercurrents at multi-month lows, providing a glimmer of hope for crypto bulls.

The chart below shows that BTC's price decline has stalled at the 200-day simple moving average support level since last Wednesday. Daily candles for Tuesday and Friday are of particular interest, as both have small bodies with long lower wicks, hinting at bear failures below the 200-day SMA.