Bitcoin 'will remind everyone who the king is' says trader as BTC dips to $44K

[RSRS]

Eyes on $42,000 for higher low
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local lows of $44,215 on Bitstamp overnight.

A continuation of consolidation seen on Tuesday, the latest dip marks a $3,800 comedown after Bitcoin saw rejection at $48,000 several days ago.

This was expected — seller pressure from that level and upwards remains significant, with bulls so far lacking the momentum to absorb their positions.

For popular trader Pentoshi, however, this was just a temporary feature. Bitcoin, he argued on the day, “will remind everyone who the king is.”

“When it’s time to buy. I’ll be going with a $Btc heavy rotational focus for the first time this year. If 40-42k is our new HL,” part of a tweet read.

“And Bitcoin truly is to go to new ath’s. It will remind everyone who the king is. Btc leads the pack from there is far more bullish.”
Attention was thus on $42,000 support for a potential higher low construction, a level not tested since Aug. 7.

As Cointelegraph reported, should BTC/USD crush the $48,000 resistance, the next stop could easily be $55,000 or more.

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