Bitcoin performs classic bounce at $40.7K as BTC price comes full circle from January 2021

Bitcoin performs classic bounce at $40.7K as BTC price comes full circle from January 2021


Bitcoin (BTC) bounced off what is for some a key level on Jan. 9, closely mimicking events from September 2021. 

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView“Shorters will get rekt” at $40,700

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing course at around $40,700 to subsequently pass $42,000.

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The behavior, while uninspiring for some, firmly reminded others of Bitcoin price behavior at the end of September, when $40,700 acted as a springboard which ultimately produced $69,000 all-time highs seven weeks later.

History and Context
40.7k $BTC https://t.co/LqlkxxJ0BF pic.twitter.com/neJlH6mnmN

— Pentoshi DM’S ARE SCAMS (@Pentosh1) January 8, 2022

“Months have passed since September. And yet, BTC finds itself in the same situation, macro-wise,” trader and analyst Rekt Capital commented.

“Still consolidating inside its macro Re-Accumulation range. In fact, $BTC is almost

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