Bitcoin (BTC) touched $44,000 a second time on Jan. 12 amid increasing divergence of opinion about whether the price bottom is “in.”
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView
Bitcoin stayed broadly higher overnight following the previous day’s United States inflation data, but for some, now was not the time to become overly confident.
“BTC starting to feel a little toppy (local), although asks are diffused through some key resistance levels,” Twitter account Material Indicators commented as part of a recent update.
“Some bitcoin bulls may show up to clear a few levels, but the whole herd is going to have to show up to clear them all.”