Bitcoin Forecast And Analysis For 8th February: Small Reversal From Buy Area

The large decline that started yesterday night has not continued today, with the price instead reversing out of the buy area it entered at the time of my last post.

At the time of this writing, the bitcoin course was equal to $3442 and the market capitalization was $60 billion.

The reversal out of the buy area has not been big, and over the past few hours, we have seen the price fall again, which suggests we could the decline continue over the course of tonight.

For now, the outlook remains the same as it did yesterday. A decline below 3337 would indicate a further rise back to 3226, whilst a reversal above 3383 would suggest a rise back up to the sell area that caused yesterday's large decline.