The bitcoin market has recently awakened from a prolonged slumber, putting bears in the driver's seat. That's the message from experts studying chart patterns, who now see a high chance of bitcoin sliding to $14,000 or below.dented investor confidence. The decline marked a downside break of months of horizontal or sideways trading above $18,000, opening doors for a notable sell-off.
Range breakdowns or breakouts usually bring a notable decline or rally. According to technical analysis theory, an asset builds potential energy during consolidation and this energy is unleashed in the direction in which the range is eventually breached. The longer the consolidation, the bigger the energy store and post-breakout/breakdown move. Seasoned traders, therefore, avoid trading against the range breakdown or breakout.
Technical patterns can and often do fail. However, bitcoin's latest range breakdown is likely to bring more pain, as adverse macroeconomic conditions and FTX's collapse are likely to keep investor risk appetite under pressure.
Source: News Formal (newsformal.com)
godbole17 Go away. First you help create the retail downfall, now you’re FUD’ing clickbait chart analysis
godbole17 ok then so this won’t happen either it bounce from here or we brutally pierce through it to 3k
godbole17
godbole17 Bitcoin needs to deepen its root more before the big shoot! Chinesebamboo
godbole17 Nobody should get deceived btc will drop below 10k.aproximately 6k_7k level. Eth 350_400
godbole17 All my predictions so accurate 🥰🥰🥰🥰🥰🥰
godbole17 Grab some $GINU 33 ETH donated to charity straight from the contract tax 💜 A true community charity coin 💜 GiveWell_Inu
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