Technical analysis by Entrenched about Symbol BTC: Buy recommendation (1/30/2022)

BTC hit the lower ascending trendline and bounced up nicely, which could suggest we see a deeper retrace for the month of Feb. A break under the trendline carries a risk of 27k imo, so IT'S important to stay vigilant. In the evenT price can hold the current lows, and STAY ABOVE the TL, I see a potential for a deep retrace into the 50k area. When we get there, I assume there will be a significant challenge. To start the month, I suspect we will range between 40k and 35k for a bit before it attempts to get back over 42k. In my opinion, it may take more than one hit to break back over the near-term res. but once above, it will open up further upside, imo.