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Keep in mind that crypto is not perfect in terms of replicating patterns that you see in the traditional stock markets, hence why it is highly probably to see something like an inverse head and shoulders play out here shortly.
Bitcoin is currently tracking down along the prior descending wedge pattern resistance which has now became support. We've also formed a nice downward channel resembling a bullish flag.
Two scenarios are currently at play here, one of which is Bitcoin dropping down towards $6,500 - $6,800 ranges and the second scenario is of Bitcoin performing a measured move...
BITCOIN bulls for a while have been targeting 10K ranges however failed to show decisiveness hence why bears were able to dominate over them each time.
Will this time be different? Maybe because we are working with what looks to be a bullish descending wedge and even though there is a possibility of a fake out towards 8K ranges, overall pattern has proved to be...
