• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

2025-07-25

Major Signal Flashed!!!

2025-07-25

Trump’s Fed Visit Could Ignite Bitcoin’s Biggest Rally Yet

2025-07-24

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    2025-07-25

    What Is Copy Trading in Crypto? A Beginner’s Guide

    2025-07-10

    A Step-by-Step Guide for Risk-Takers

    2025-07-09

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    2025-07-09

    How It Works and What to Watch Out For

    2025-07-09
  • Videos

    Major Signal Flashed!!!

    2025-07-25

    Trump’s Fed Visit Could Ignite Bitcoin’s Biggest Rally Yet

    2025-07-24

    Why Did Bitcoin and Crypto Dump Today?

    2025-07-23

    Wall Street’s Crypto Moves Just Got Exposed

    2025-07-23

    Ain’t No Bacteria Poopin’ Bitcoin 😂

    2025-07-23
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Bitcoin»Bitcoin: Analyst explains why it’s still not too late to buy BTC at $45,000
Bitcoin

Bitcoin: Analyst explains why it’s still not too late to buy BTC at $45,000

2024-02-09No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

  • Bitcoin surged past $45,000 on the charts
  • Dan the Chart Man is advocating for strategic buying during tight-range breakouts

For the first time since mid-January, Bitcoin (BTC) has finally breached the $45,000-mark, trading at $46,209 at press time. This resurgence has sparked optimism among investors. In fact, some traders have even set their sights on a potential push towards $50,000.

Is Bitcoin bullish?

During a recent livestream, Dan McDermitt, Founder and CEO of The Chart Guys, discussed the implications of this rally alongside Scott Melker.  He shared an optimistic outlook for bullish investors in the market. McDermitt drew attention to the fact that the prices were moving sideways on the daily chart for approximately two weeks.

This period of stability, described as the tightest range observed in months, pointed to an imminent breakout. The trader remarked, 

“We know a break of this range is coming, whether it’s bull or bear, and volume and volatility are going to accompany that.” 

Not too late to buy Bitcoin

McDermitt explained that while the potential for a 10% follow-through on a bull break may not be as prevalent as in the past, the strategy of investing during these moments remains critical. He commented, 

“If I’m going to be buying a bull break, it’s got to be a really tight range-breaking bull just exactly like this.”

He further elaborated that the recent price action has led to a retracement to the “golden pocket,” a level that significantly increases the likelihood of sustaining the rally. 

Even if Bitcoin fails to surpass recent highs immediately, McDermitt claimed that the market will likely seek a new weekly higher low compared to the recent low at $38,500. This will provide a “nice cushion” for bullish investors. 

See also  Where's Bitcoin headed next as bulls fail to defend $25.2k

Where is the BTC market heading?

The ongoing question for investors, according to McDermitt, is whether the market will continue to see greater bull volume or if it will consolidate through February. According to him, the next week to week and a half would be crucial for determining the likelihood of each scenario.

The Chart Guy emphasized the importance of the 12-day exponential moving average (EMA) as a key market indicator. For him, as long as the bulls keep holding this level every time it’s tested, the market is stable. 

McDermitt also recognized the significance of monitoring trading volume for assessing market probabilities. Further attention was also drawn to market volume trends, particularly in the context of Coinbase and recent exchange-traded fund (ETF) activities. While the volume has recently increased, it has generally been on a downward trend over the past few weeks.

Next: Why choose CryptoProcessing.com for accepting crypto payments?
Analyst Bitcoin BTC Buy explains Late
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Why Did Bitcoin and Crypto Dump Today?

2025-07-23

Ain’t No Bacteria Poopin’ Bitcoin 😂

2025-07-23

Historic Crypto Approval = New Bitcoin High Soon

2025-07-22

Altseason Ignites: Bitcoin Inflows, ETH Flip, and Saylor’s Bold Move

2025-07-22
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Bitcoin

Quant Explains Bitcoin Funding Rates Pattern That Precedes Uptrends

2023-04-21

A quant has explained how a specific Bitcoin funding rates pattern has preceded uptrends in…

Videos

CRYPTO SEA OF RED! WHAT HAPPENED!?!

2024-08-05

I will show you how I make significant gains in the crypto market! You want…

Learn About Crypto

Is Bitcoin Mining Legal & How Does Bitcoin Mining Work?

2024-06-06

In most parts of the world, Bitcoin mining is a legal activity, but the regulations…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

2025-07-25

Major Signal Flashed!!!

2025-07-25

Trump’s Fed Visit Could Ignite Bitcoin’s Biggest Rally Yet

2025-07-24

Why Did Bitcoin and Crypto Dump Today?

2025-07-23
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 117,976.61
ethereum
Ethereum (ETH) $ 3,725.01
xrp
XRP (XRP) $ 3.18
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 780.38
solana
Solana (SOL) $ 186.49
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.236591
staked-ether
Lido Staked Ether (STETH) $ 3,718.90
tron
TRON (TRX) $ 0.319096
bitcoin
Bitcoin (BTC) $ 117,976.61
ethereum
Ethereum (ETH) $ 3,725.01
xrp
XRP (XRP) $ 3.18
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 780.38
solana
Solana (SOL) $ 186.49
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.236591
staked-ether
Lido Staked Ether (STETH) $ 3,718.90
tron
TRON (TRX) $ 0.319096