Bitcoin (BTC) and altcoins SEC‘s cryptocurrency exchange KrakenIt went into decline after the lawsuit he filed against .
As Bitcoin retreated below $22,000, the table turned red in altcoins.
Investors after this decline bitcoin Is it giving back its January gains? BTC Will it rise again? popular when searching for answers to your questions cryptocurrency analyst Rekt CapitalA BTC assessment came from .
Pointing out that Bitcoin needs to make its daily close above $22,692 in order to continue its uptrend, the analyst said:
“Bitcoin held the trendline well yesterday, but today the price is moving down below that level.
To keep the technical uptrend intact, BTC needs to make its daily close above the Green High Low.
That level is also equivalent to $22,692 according to the BTC chart.”
Stating that investors should not lose hope despite a negative picture, the analyst said, bitcointhat ‘s may still return to bull territory told.
“Bitcoin is threatening to lose several weeks High Low (green) after rejecting the $23,400 resistance.
At this stage, BTC may still return to the green triangle and print the current price action as a negative wick.”
Finally, Rekt Capital has warned its followers of the possible pitfalls of “fear of missing out” (FOMO) trading. “If you FOMO on a green day, you won’t have enough ammo to FOMO on a red day.” said.
#BTC held the trendline well yesterday whereas today price is downside wicking below it$BTC needs to Daily Close above the green Higher Low to keep the technical uptrend intact#Crypto #Bitcoin pic.twitter.com/hyJtN9uZy3
— Rekt Capital (@rektcapital) February 9, 2023
*Not investment advice.
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