Why do experts think it's too early to go long on Bitcoin right now?

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Although the price of Bitcoin (BTC) remains above $100,000, analysts warn that now is not the best time to enter a long position. Despite Bitcoin dropping to $91,229 on February 3, it rebounded to above $102,000, but the overall trend still appears hesitant.

Matrixport analysts point out that historical data shows that real buying opportunities for Bitcoin only arise when the Relative Strength Index (RSI) falls to around 40%. Currently, the RSI remains at 48%, above the ideal buying range. Due to market uncertainty, analysts recommend that investors should remain patient and wait for better entry points.

Additionally, the plunge on February 3 led to over $2.3 billion in leveraged positions being liquidated, marking a historic high that even surpassed the impact of the Terra and FTX collapses. Although Bitcoin's price rebounded after Trump proposed increasing tariffs, overall market sentiment remains cautious.

In summary, experts advise adopting a more strategic approach and patiently waiting for clearer entry points.

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