Bitcoin is forming a textbook downside continuation structure called Bearish Pennant whose ultimate breakout target lurks near $16,000.
Bitcoin (BTC) has rebounded by more than 25% after bottoming out at $30,000 during the May 19 crash. But the cryptocurrency continues to tread ahead under the possibility of facing another period of strong sell-offs owing to a classic technical indicator pattern.Bitcoin price in a 'Bearish Pennant’ Dubbed as Bearish Pennant, the pattern forms when an asset consolidates after a strong move downward and forms a small symmetrical triangle-like price range. It breaks below the range support and continues moving lower. Traders usually estimate the size of the negative breakout move by measuring the height of the earlier move.Bitcoin is currently trading inside a similar bearish pennant structure, fluctuating sideways as it forms a sequence of lower highs and higher lows. Meanwhile, its consoli
Coinbase, Ledger, and other crypto services impacted by client sync issue following Ethereum’s Berlin hard fork
Ethereum’s latest network upgrade, Berlin, went live on Thursday morning. But a syncing issue appears to have snarled…
