Bitcoin (BTC) held near $42,000 on Jan. 27 as late-week BTC price gains made traders confident about fresh upside. <\/p>\n
Data from Cointelegraph Markets Pro and TradingView showed classic cool weekend price action entering, with $41,800 as a focus. <\/p>\n
The day prior saw 5% upside, with Cointelegraph reporting on improving market conditions relative to past weeks. <\/p>\n
The same topics were on the radar outflows from exchange-traded funds (ETFs), sell pressure from defunct exchanges FTX and Mt. Gox and the incoming block subsidy halving. <\/p>\n
In his latest YouTube update, Michal van de Poppe, founder and CEO of MN Trading, nonetheless told viewers that he believed the current BTC price correction to be over. <\/p>\n
Between now and Aprils halving, he foresaw a trip to long-term range highs, but did not discount the possibility of taking liquidity in the mid to low-$30,000 zone. <\/p>\n
Perhaps were going to have one more run to $48,000 prior to it, then a final correction, he summarized. <\/p>\n
Van de Poppe argued that the negative influence of FTX, Mt. Gox and GBTC maneuvers would become less noticeable in time. <\/p>\n
Bitcoin is likely consolidating from here, between $37-48K for the coming months, he added in a subsequent post on X (formerly Twitter). <\/p>\n
As Cointelegraph noted, not everyone believes that Bitcoin is out of the woods some continue to see a return to $30,000 or even lower in the coming months. <\/p>\n
Continuing on shorter timeframes, popular trader and analyst Rekt Capital drew attention to the significance of the upcoming weekly close. <\/p>\n
Related:3 reasons why Bitcoin hitting $38.5K marked the ETF dip <\/p>\n
Great reaction from Bitcoin this week as it slowly positions itself to reclaim the range it had lost earlier this week, he continued. <\/p>\n
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. <\/p>\n
<\/p>\n
See the rest here:<\/p>\n
Bitcoin nears key weekly close as analyst says 20% BTC price dip 'over' - Cointelegraph<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin (BTC) held near $42,000 on Jan. 27 as late-week BTC price gains made traders confident about fresh upside. Data from Cointelegraph Markets Pro and TradingView showed classic cool weekend price action entering, with $41,800 as a focus. Continue reading