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If Bitcoin doesn't break record highs right away, it wouldn't be the worst thing, trader posits

Published 01/14/2021, 01:26 PM
Updated 01/14/2021, 03:00 PM
If Bitcoin doesn't break record highs right away, it wouldn't be the worst thing, trader posits
BTC/USD
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After its rise past $40,000, and a correction back to nearly $30,000, Bitcoin (BTC) has rebounded once again. Stalling before jumping back up past highs near $42,000 could be good for the asset, however, according to Brian Krogsgard, a trader and podcaster going by the name LedgerStatus on Twitter.

“Bitcoin's correction was healthy in a strong bullish environment, mean reverting back to the 20 day moving average,” Krogsgard told Cointelegraph on Thursday. “With a strong bounce now, it is time to see if it will immediately continue upward, or spend longer in prolonged consolidation, which I believe would be healthy.”

Source: TradingView.com

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