Bitcoin Price Prediction: Over the last two weeks, the BTC price has witnessed high volatility as the overhead supply pressure around the $36,000 mark is undermining buyers’ attempt to regain higher ground. However, a look at the 4-hour time frame shows this consolidation resonates between two parallel walking trend lines of a rising channel pattern. The coin Price currently at the lower trend line of this pattern threatens a potential breakdown which may trigger a bearish correction.
Also Read: Bitcoin (BTC) Price Consolidates as Analyst Predicts Next Stop
Will BTC Price Plunge to $30000?
A channel pattern carrying the current distribution phase is in BTC
A bearish breakdown from the support trendline would set a pullback to the $32000 mark
The intraday trading volume in Bitcoin is $13.1 Billion, indicating a 3.1% loss.
Source-Tradingview
Under the influence of a rising channel pattern, the Bitcoin price is riding a shallow recovery below the $36,000 barrier. The daily candles proje
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