BTC dipping before a potential breach of ~45,000 levels
The 4h chart of Bitcoin is in uptrend and to breach the uptrend, a major collapse needs to happen at this point.
Rather than a collapse, the chart indicates the dip we are experiencing now as a potential necessity before breaching the ~45,000 price mark.
Nonetheless, RSI shows both on the 1h and 4h chart, Bitcoin is entering oversold areas. This could be a a planned move by the bulls after being rejected several times at ~45,000, exhaust the bears in a calculated dip to go long and enter ~48,000 within the upcoming third week of February.
Traders should be cautious with their trades, we are still considered to be in no mans land.
The winners are those who entered long trades at ~30,000 price marks
Rather than a collapse, the chart indicates the dip we are experiencing now as a potential necessity before breaching the ~45,000 price mark.
Nonetheless, RSI shows both on the 1h and 4h chart, Bitcoin is entering oversold areas. This could be a a planned move by the bulls after being rejected several times at ~45,000, exhaust the bears in a calculated dip to go long and enter ~48,000 within the upcoming third week of February.
Traders should be cautious with their trades, we are still considered to be in no mans land.
The winners are those who entered long trades at ~30,000 price marks
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