Calm! Bitcoin price drop of $ 9K is not a trend reversal, according to data by Cointelegraph

Calm! $ 9K Bitcoin Price Drop Not a Trend Reversal, Data Says

After the price (BTC) flirted with an all-time high of $ 42,000 on Jan 8, it stabilized in a tightening range between $ 39,000 and $ 41,500 for two days and the pennant structure in the shorter timeframes hinted that a break to $ 45,000 was a possibility. . All of this suddenly changed on January 10, as the $ 39,000 support failed to hold and the price of Bitcoin entered a sharp correction. 4 hour chart. Source: TradingView Derivatives trades open interest BTC futures in USD. Source: BTC / USD 4-hour chart. Source: TradingViewTop traders BTC long / short ratio. Source: Weekly Profits and Losses from Top Bitfinex Traders. Source: BitfinexBitfinex BTC long to short ratio (blue) vs BTC price (orange). Source: Bitfinex Continue reading on Coin Telegraph

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