Bitcoin Bounces to $69K, But Charts Are Still Bearish: Analysis
Decrypt
by Jose Antonio LanzFebruary 13, 2026
AI-Generated Deep Dive Summary
Bitcoin has rebounded from its recent lows of $60K, reaching an intraday high of $69K and closing at $69,321—a 3.69% gain over the past 24 hours. However, despite this short-term bounce, the broader market sentiment remains bearish, with key technical indicators signaling caution for long-term investors.
The Average Directional Index (ADX) stands at 51.3, confirming a strong bearish trend and reinforcing the idea that Bitcoin's upward movement may be temporary. The Relative Strength Index (RSI) is at 35, still in oversold territory but far from neutral levels of 50. While this suggests some recovery from the lows, it doesn't indicate a shift to bullish momentum. Additionally, the 50-day Exponential Moving Average (EMA) remains well below the 200-day EMA, maintaining a bearish structural setup.
On Myriad, a prediction market by Decrypt's parent company Dastan, traders are pricing in a 55% probability that Bitcoin will drop to $55K before recovering. This reflects a persistent lack of confidence in a near-term rebound, with many anticipating further declines. British bank Standard Chartered has also downgraded its Bitcoin price target from $300K to the $100K range, warning of potential crashes to $50K. These factors highlight the ongoing bearish sentiment dominating the market.
The Crypto Fear and Greed Index sits at 8 points, near an all-time low, indicating extreme fear among investors. While the global crypto market cap has ticked up to $2.36 trillion
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Originally published on Decrypt on 2/13/2026