Where to ‘Buy the Dip’ in Bitcoin [BTC] below $10k? Price Analysts Suggest

Bitcoin [BTC] price drops by $500 from the its’ highs as the bullish run cools-off. At 5: 00 hours UTC on 11th February is trading at $9740. Nevertheless, as the trend remains bullish traders are looking to ‘buy the dip’.

On the 4-hour chart, the 50-EMA (Exponential Moving Average) is acting as support at the moment.

The funding rate rose to highs around 6% (daily) on BitMEX with rising long interest. However, the drop in the last few hours has brought it back to levels around 1.2%. The interest to buy a lower dip and short orders are beginning to rise.

The bullish senitments is, however, still active. As reported yesterday on CoinGape, traders continue to look around the $9,400-9,600 area to buy. Prominent derivatives and crypto trader, SC, tweeted on similar lines,

Looking for some bids in the red if we get it. $BTC