There is also the possibility that this is a huge pattern and if we can hold at the 0.382 fib level, market sentiment and momentum might turn to the upside.
I think too many people forget Bitcoin may not be as practical anymore, but it is still a unit of value like gold . We still use Bitcoin as measure of value against all other crypto. As time goes on, bitcoin will become rarer and rarer. This is backed by mathematical proof and it is my personal opinion that Bitcoin is prepping for a huge slingshot back up since this fib level provides a great entry point for a lot of new capital. Given how much media attention the last cycle brought us, we could expect major cash flow. Another thing to keep in mind is that US equities are up and Crypto is not the only appealing market. Good luck on everyone's trades! Remember when there's a sea of red, it is usually followed by fields of green! February could be a great month.
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