Bitcoin dips below K but one trader is eyeing ‘solid risk/reward’ for longing BTC now

Bitcoin dips below $47K but one trader is eyeing ‘solid risk/reward’ for longing BTC now

Bitcoin (BTC) added to its losses on Dec. 29 with a fresh tumble briefly taking BTC/USD below $46,600.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

RSI flashes “oversold”

Data from Cointelegraph Markets Pro and TradingView showed the pair giving up ground prior to the Wall St. open to increase its 48-hour correction to 10.4%.

The latest move in a familiar pattern of behavior, the market showed that the range in which Bitcoin has acted in December remains very much in play. 

As…


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