After experiencing a sharp reversal from the all-time high price, bitcoin has been in a consolidation for the past two weeks forming a recognizable bearish continuation pattern.
We anticipate two possible bitcoin price action scenarios this week;
1. A price reversal after hitting the third touch region of the trendline illustrated in white;
2. Price to correctively revisit the all-time high region to form a double top before melting to the down side (illustrated in blue).
We anticipate two possible bitcoin price action scenarios this week;
1. A price reversal after hitting the third touch region of the trendline illustrated in white;
2. Price to correctively revisit the all-time high region to form a double top before melting to the down side (illustrated in blue).