BTC, LINK, HNT, FLOW, ONE By Cointelegraph

Bitcoin’s (BTC) relief rally rose above $ 38,500 on Jan. 29, but the bulls are struggling to sustain the higher levels. For the past few days, Bitcoin’s sentiment has closely followed the US equity markets. Hence, analysts warned traders to be careful and not to read much into any possible weekend rallies when traditional markets are closed because it could be a trap.

However, analysts at Decentrader trading suite said in a recent report that a “near-term relief bounce” is possible. The report also highlighted that “meaningful buyers” were stepping in and that could result in a potential change in the higher time frame trend from bearish to bullish. ”