As we all know Bitcoin has been since its December peak. January and the beginning of February have been for four years in a row now, which (coincidence or not) also seemed to see its low point two weeks before Chinese New Year (which is celebrated in two weeks for now). Of course anxiety surrounding the BTC , doubts about Tether and rumors on restricting legislation also contributed to the dip.
If we zoom out we could say it is descending as a and a reversal might be on the horizon. However to not start descending again it needs to break up above the dotted orange trend extrapolation soon. If it fails to break through that line it will probably test the blue flag bottom line again which might be see it go all the way down to 5000 euro .
I generally find it really hard to give a buy or short advice on Bitcoin and I won't give you one now. We might have seen the low point and start reversal now, or we could go down once more, so either up or down basically (duh). The reason why I am sharing this TA is so you have trend, lines available you can monitor and which might help you with your trading strategy.
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Bitcoin wallet: 13MJSpaqqpBm9JfqNUFt424CQZBF8TKHYa
Ethereum wallet: 0x105e37a11abfcfa80ab51c00bc6837f65183af64
I have posted updated BTC TA here: