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Bitcoin Has Only Had One Other Rounded Top, And a Major Correction Followed


Bitcoin Has Only Had One Other Rounded Top, And a Major Correction Followed

If the current price action is a top formation, then it doesn’t match the sharp spikes Bitcoin and blow-off tops the cryptocurrency is known for. Only one other time has a comparable rounded top formation appeared on BTCUSD price charts over the last ten years. And when it happened, a major correction followed. Should the first-ever cryptocurrency fail to pump soon and prove this trading range isn’t a top, then another collapse could be next.

When Will The Confusing, Sideways Trading Range End and Crypto Break Out?


The current Bitcoin price action has the crypto market and its participants confused. The indecision is reflected in both the sideways price action and the doji on the June monthly close. Volatility in the normally notoriously explosive asset class has reached record lows. The cryptocurrency rarely stays in this tight of a trading range for very long. When it does eventually break out, a powerful, over 20% move follows, according to data. Crypto analysts review past price action in Bitcoin seeking clues to how current and future price movements may play out. Read More...