After the tweet we saw a huge dump straight to 46k. I thought of doing a technical analysis and see what the chart says to us.
As per the analysis we see that bitcoin was in a rising wedge pattern for a long time. As you know Rising Wedge is a bearish pattern but looking at the ETH we expected Bitcoin to breakout upside. As this didn't happened we saw a breakout from a rising wedge pattern to the downside.
At 53k to 54k level bitcoin took the support and then retested the rising wedge trend line and then we saw a huge downfall to 46k levels.
DYOR
As per the analysis we see that bitcoin was in a rising wedge pattern for a long time. As you know Rising Wedge is a bearish pattern but looking at the ETH we expected Bitcoin to breakout upside. As this didn't happened we saw a breakout from a rising wedge pattern to the downside.
At 53k to 54k level bitcoin took the support and then retested the rising wedge trend line and then we saw a huge downfall to 46k levels.
DYOR
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