The post Could Bitcoin Defy the Bears? Top Bitcoin Analyst Points to Past Patterns for Hope appeared first on Coinpedia Fintech News
Bitcoin (BTC), the leading cryptocurrency has struggled over the weekend, with its price dropping by 10% and falling an additional 2% in the last 24 hours, reaching nearly $57,117. Currently, bitcoin is in a falling wedge pattern, which traditionally hints at a possible drop. If Bitcoin slips below this critical level, it could tumble to around $54,000.
Perhaps, Decode a Bitcoin analyst and Elliot wave Technician suggests a possible rebound from its current level citing a past price pattern.
Will History Offer a Bullish Surprise?
In a compelling tweet, a Decode Bitcoin analyst shared a fascinating analysis. Further analysts compared Bitcoin’s current chart with those from August and September of last year.
There are no guarantees, but what if bears are wrong?#Bitcoin pic.twitter.com/mNesAkdkNk
— Decode (@decodejar) September 2, 2024
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