‘No signs Bitcoin has bottomed’ as data warns BTC price downtrend continuing

Bitcoin (BTC) received a welcome boost at the Wall Street open on Jan. 31 as fresh research painted a gloomy picture for near-term price action.

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

Trader “not interested” in longs below $38,500

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing toward $38,000 on Monday, reversing a correction that had set in immediately after Jan. 30’s weekly close.

With stocks giving some relief to bulls, many analysts remained…


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