Let's remember what happened in 2018 after a huge 2017. Bitcoin entered a triangle pattern with strong support at $6000 and each bounce reaching triangle boundaries but never breaking out. Alas, towards the end Bitcoin finally broke support and collapsed to sub $4000 levels.
Fast forward to 2020 and after a huge 2019, Bitcoin is once again inside another triangle pattern. This time however, the downside lies below $4000 and somewhere in the ~$2000 region. If price action repeats itself, we could see Bitcoin to such low levels. The key question will be, can Bitcoin bounce back once again??
We shall see.
Fast forward to 2020 and after a huge 2019, Bitcoin is once again inside another triangle pattern. This time however, the downside lies below $4000 and somewhere in the ~$2000 region. If price action repeats itself, we could see Bitcoin to such low levels. The key question will be, can Bitcoin bounce back once again??
We shall see.