Bitcoin (BTC) jumped above $45,000, but bounced back slightly, reports Xoverbit * Crypto News Today
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Bitcoin (BTC) rose significantly on February 7 and made a bullish breakout from a short-term pattern. The market has probably already formed a base.

The weekly chart shows that BTC rose significantly during the week of January 31 to February 7, and bitcoin continues to strengthen this week.

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If BTC manages to close above the current price levels, it will lead to the emergence of the “morning star” pattern on the weekly chart, which is often considered a bullish reversal pattern. In this case that pattern would negate the entire decline of January 17-24. Thus, it is crucial for bitcoin to end this week above $43,070. This will complete the formation of the pattern, reports Xoverbit.

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Xoverbit.com

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