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Bitcoin / TetherUS
Short

Why Bitcoin Drops?

By denniskurniawan
Well, probably some of u have been wondering why that bitcoin declining sharply. From the technical perspective, we can see that in weekly timeframe bitcoin had a big head and shoulder pattern since july 2021 till january 2022. In this pattern, it has resistance from the head and shoulder pattern around 40-44k that been tested and rejected. So, with that pattern the bitcoin will be targeted at 16.4k and currently the bitcoin also hit the major support at 18.8k. But there's still no reversal sign in the weekly time frame. In my opinion, it's best for us to wait and see in this moment.
Bearish PatternsBeyond Technical AnalysisBitcoin (Cryptocurrency)BTCbtcbearishBTCUSDTchartanalysisChart PatternsheadnandshouldersTrend Analysis
denniskurniawan

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