Bitcoin price bounces after Amazon stock gains 15% in US tech comeback
Bitcoin (BTC) recovered much of its recent losses on Feb. 4, but concerns remained that a retest of $30,000 was incoming.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to $38,000 Friday, up over 2% in 24 hours.
The pair saw a strong comeback overnight after suffering at the hands of United States stock sellers for two days straight.
A similar turnaround for tech stocks later on Thursday, with Amazon gaining 15%, set the stage for Bitcoin to rise in step, with BTC proponents nonetheless criticizing the over volatility of some equities.
The rebound, meanwhile, could go some way to averting a deeper retracement for Bitcoin, this nonetheless favored by Cointelegraph contributor Michaël van de Poppe as a “likely” move.
“Overall, most likely case is another sweep of the lows for Bitcoin around $30-33K and after that we create a bullish divergence and the fun continues,” he argued late Thursday.
For a paradigm shift to occur, he reiterated that the area around $38,600 should still be broken and held.
“BTC is still forming an indecision candle just below the key resistance of ~$38650,” Fellow trader and analyst Rekt Capital said as part of his latest tweet about the same level.
Pentoshi took on longer timeframes, punctuating months of cautious forecasts on BTC with fresh hope of a resurgence.
As $BTC enters the green zone. My Bera watch ends, and bulla watch beginsCrazy how that works. Months of macro based bear posting after a deviation. Soon most will think it's over, when it really just beginsBillionaires, nations, institutions compete for scarcity(X) pic.twitter.com/0vcuRAahw6
As Cointelegraph reported, on-chain indicators continue to call such a resurgence ahead of time this week, breaking out of two
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