After soaring to an all-time high of $41,950 on Jan. 8, the cryptocurrency hit a major roadblock and corrected to as low as $28,845 on Jan. 22. On Feb. 6, Bitcoin recovered to $41,000 but then started to give up its gains, dipping to $37,351 the following day.
Henrich asserts that Bitcoin has to convincingly break through $45,220 to get a footing above the 3.618 Fibonacci level.
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