Crypto Analyst Sounds Alarm, Says Bitcoin Is Nearing 2021 Bull Market Collapse Redux
Portfolio Pulse from Bibhu Pattnaik
Crypto analyst Rekt Capital has warned that Bitcoin (BTC) is nearing a bearish double-top pattern, similar to the one seen before its collapse in late 2021. The analyst predicts that Bitcoin will experience a rebound before undergoing a significant corrective decline, nearing the $20,000 price range. At the time of writing, Bitcoin was trading at $25,918.93, down by one percent in the last seven days.
September 03, 2023 | 4:14 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Bitcoin is predicted to experience a significant decline, nearing the $20,000 price range, following a bearish double-top pattern.
The analyst Rekt Capital has identified a bearish double-top pattern in Bitcoin's price movement, similar to the one seen before its collapse in late 2021. This pattern suggests a significant decline in Bitcoin's price, nearing the $20,000 range. Given the historical accuracy of this pattern, there is a high likelihood of this prediction coming true.
CONFIDENCE 80
IMPORTANCE 100
RELEVANCE 100