Happy Chinese New Year everyone ! It starts in a few days so be aware of pullbacks that might happen. Now here we see our 1 day Bitcoin chart from Bitstamp . Of course Bitcoin recently touched 47k ! And many think the upside will continue at some point . But remember , Chinese New Year , also known as Lunar New Year is a MASSIVE time in China when all people , including traders will take time off to travel and visit their families . That means a lot of trading will halt. Or traders will sell and come out of positions for a little while . Meaning we could see some big pullbacks happening in Bitcoin. This is not unusual and Bitcoin is still bullish this year . But be aware that there can be a pullback in a few days when Chinese New Year starts. It starts on February 12th where you see that red symbol on my chart . And the New Year celebrations can go on for a couple of weeks . This isn't guaranteed , again, but please be aware of these things . Also extra credit to anyone in the comments who knows what animal represents the new year coming from Chinese zodiac ! ( Also , it would be nice to see Bitcoin get to 52k before this pullback , if it happens ! I'll link a recent chart below for that . )
