Published On: Fri, Feb 9th, 2018

Bitcoin Price Analysis: Bearish Continuation Pattern Could Signal End of Bullish Rally

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Over the last couple weeks, bitcoin has seen a dramatic drop in price dropping from $20,000 to $6,000. Shortly after bottoming at $6,000, hopeful investors jumped at the chance to catch a discounted coin. Is this rise sustainable and does it mark the end of the drastic correction?Let’s take a look at the macro trend:Figure 1: BTC-USD, 1-Day Candles, Macro TrendOne of the most concerning things regarding the health of this trend is the breakdown of both the parabolic and linear trends. Both trends lasted several years and represented the entire life of a multi-year bull market. A breakdown of …

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