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DeepSeek/Nvidia/AI Sell-Off Creates a Hidden Bitcoin Mining Opportunity—Here’s Where to Look!

While Ethereum....

Author

Markus Thielen
January 28, 2025

👇1-12) Although Bitcoin broke out of the wedge to the upside, Monday’s sell-off led to a retest of the upper wedge line (purple). While most investors remain focused on Bitcoin’s long-term trajectory, some are concerned about short-term price action. However, as long as Bitcoin holds above the short-term support level at $99,611 (dotted line), the bullish scenario remains intact. Additionally, the medium-term outlook stays positive as long as Bitcoin maintains support above $91,864.

Bitcoin - hourly chart

👇2-12) Bitcoin initially started January with strong momentum but encountered a mini inflation scare leading up to the CPI data release. Economists had raised their inflation expectations, and while the actual data came in higher, it matched forecasts, triggering a relief rally into the Trump inauguration.

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