Bitcoin is still trading below a valid line of resistance drawn from the crypto’s record price to nearly $69,000 in November. The small rebound in January saw a “shooting star” candlestick happening at the trendline barrier, which sent the cryptocurrency plummeting by 24% to as low as $32,970 last week. The recovery has sent Bitcoin back to the trendline, and Bitcoin breaks above it, it will go back to the next cluster of Fibonacci resistance — around $40,000.
