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New Pattern Suggests Bearish Future For Bitcoin, Currency Could Drop Back Below $11,000

Emily Mason

Summary: A trading pattern is emerging which suggests Bitcoin's price will soon drop off, according to automated crypto trading scanner 100eyes. The triple repeat fractal suggests the currency's price may soon dip towards $10,000. The pattern forms when Bitcoin's price rises for a short period and then loses all the gains and dips lower than when ...

A trading pattern is emerging which suggests Bitcoin's price will soon drop off, according to automated crypto trading scanner 100eyes.

The triple repeat fractal suggests the currency's price may soon dip towards $10,000. The pattern forms when Bitcoin's price rises for a short period and then loses all the gains and dips lower than when the pattern began. 

100eyes stated that if the pattern is validated Bitcoin's price could ascend to $11,600 and then drop back down to $11,000 or lower. At the time of writing Bitcoin is trading at $11,489 and is up 2.50%.

By Emily Mason

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