Bitcoin (BTC<\/a>) recovered much of its recent losses on Feb. 4, but concerns remained that a retest of $30,000 was incoming.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD returning to $38,000 Friday, up over 2% in 24 hours.<\/p>\n The pair saw a strong comeback overnight after suffering at the hands of United States stock sellers for two days straight.<\/p>\n A similar turnaround for tech stocks later on Thursday, with Amazon gaining 15%, set the stage for Bitcoin to rise in step, with BTC proponents nonetheless criticizing the over volatility of some equities.<\/p>\n The rebound, meanwhile, could go some way to averting a deeper retracement for Bitcoin, this nonetheless favored by Cointelegraph contributor Micha\u00ebl van de Poppe as a \u201clikely\u201d move.<\/p>\n \u201cOverall, most likely case is another sweep of the lows for Bitcoin around $30-33K and after that we create a bullish divergence and the fun continues,\u201d he argued<\/a> late Thursday.<\/p>\n For a paradigm shift to occur, he reiterated<\/a> that the area around $38,600 should still be broken and held.<\/p>\n \u201cBTC is still forming an indecision candle just below the key resistance of ~$38650,\u201d Fellow trader and analyst Rekt Capital said<\/a> as part of his latest tweet about the same level.<\/p>\n \u201cThat said, for the time being BTC is able to hold the top of last week\u2019s candle as support. Technically, BTC is still inside the 28000-$38000 range until further notice.\u201d<\/p><\/blockquote>\n Pentoshi took on longer timeframes, punctuating months of cautious forecasts on BTC with fresh hope of a resurgence.<\/p>\n As $BTC<\/a> enters the green zone. My Bera watch ends, and bulla watch begins<\/p>\n Crazy how that works. Months of macro based bear posting after a deviation. <\/p>\n Soon most will think it’s over, when it really just begins<\/p>\n Billionaires, nations, institutions compete for scarcity<\/p>\n (X) pic.twitter.com\/0vcuRAahw6<\/a><\/p>\n \u2014 Pentoshi DM’S ARE SCAMS (@Pentosh1) February 3, 2022<\/a><\/p><\/blockquote>\n As Cointelegraph reported, on-chain indicators continue to call such a resurgence<\/a> ahead of time this week, breaking out of two months of downside.<\/p>\n On altcoins, Ether (ETH<\/a>) and Solana (SOL<\/a>) led on the day, both posting 24-hour gains above 5%.<\/p>\n Related:\u00a0Bitcoin whales buy at $38K as BTC supply per whale hits 10-year high<\/a><\/em><\/strong><\/p>\n ETH\/USD outpaced BTC\/USD to pass $2,800, as trader and Bollinger Bands creator John Bollinger suggested that current levels were a satisfactory buy zone for his ETH allocation<\/a>.<\/p>\n This seems like a good add-to spot for my $ethusd<\/a> position.<\/p>\n \u2014 John Bollinger (@bbands) February 3, 2022<\/a><\/p><\/blockquote>\n \u201cEthereum is acting even stronger than Bitcoin here,\u201d van de Poppe added<\/a>, as the largest altcoin by market capitalization reached its highest levels since Jan. 21.<\/p>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/2b931021-2e30-4678-9a6c-a9aa62a32891.png\")
$38,600 remains focal pivot<\/h2>\n
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Ether hits two-week high above $2,800<\/h2>\n
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