Is Bitcoin ready for an new ATH? (Technical Analysis)

Is Bitcoin ready for an new ATH? (Technical Analysis)

By Inter_netMoney_ | Inter_netMoney | 2 Feb 2021


ij42VfeLLLLAmbdESeavvrZTYERBrwHoU9rZ8KZWbULjeXcAvLR7S6YcZTQJT6VQu513Hx5bhTwMqHtfrpyzffFn2i72UNsbxeTXMds7oJrCY71AXF2hkJdrx7Khya1ByBhoYSYUVLApYRUFvhLnQpZksuxTp2u8Gye7Gn5Xn5RjRhcTVN3GFXVMe4Gg1CxbNvUdhbqXmvzDCDqGHNJh3MZ43?format=match&mode=fit&width=640

On January 8th 2021 Bitcoin reached a historical price point. A new all time high of $41,018 usd was reached and establish; up a whooping 120% from just 30 days prior. Naturally many holders took profit driving the price down to around $30,000 usd. New buyers came into the market resulting in a new Bitcoin price floor. (See chart A)

ADdPNihJzmPbjd9rMLPtzbyK3y6hodWP1oQxAuSvmqAfSBmsSUPhKpsjMesB7c4ApmGbxwoYKtw5BAZheSVa158WQ?format=match&mode=fit&width=640

The crypto market cap including Bitcoin displays the capital inflows that supports Bitcoin's previous and current price action (See chart B). With the inception of a new price floor buyer's took full advantage of the opportunity to buy at discounted prices. The bottomed out prices leads to accumulation in the market.

ADdPNihJzmPbjd9rMLPtzbyK3y6hodWP1oQxAuSvmqAkg6Px9iv2NJ11w3Zhs65PoTsjuMbgzHjYpLX6KS7FRJoTa?format=match&mode=fit&width=640

To date Bitcoin's price is bullish up +$5,000 now attracting more buyers to the market. All of this add's more bullish sentiment. Is Bitcoin ready for a new all time high? Will the market see prices reach $41k in the next 7 days?

Please leave questions, comments and or suggestions below. Don't forget to tip.

Twitter: Inter_netMoney

How do you rate this article?


0

0

Inter_netMoney_
Inter_netMoney_

Twitter: Inter_netMoney


Inter_netMoney
Inter_netMoney

Your source for all Defi price analysis

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.