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Analysis: BTC may be repeating the pattern seen at the end of the 2021 Bitcoin bull market
Summary: According to reports, traders are warning that Bitcoin may be repeating the pattern seen at the end of the 2021 Bitcoin bull market. Cryptocurrency trader Cheds stated that after Bitcoin surged to a new all-time high last week, it faced another round of selling, which could be a ominous signal for investors. Cheds believes that ...
According to reports, traders are warning that Bitcoin may be repeating the pattern seen at the end of the 2021 Bitcoin bull market. Cryptocurrency trader Cheds stated that after Bitcoin surged to a new all-time high last week, it faced another round of selling, which could be a ominous signal for investors. Cheds believes that Bitcoin is showing a 'failed breakout' pattern - commonly seen as a trap in bull markets, indicating market weakness and potential trend reversal. 'When the price breaks through resistance but then falls back and fails to hold that position, it forms a failed breakout pattern. In addition, we also see an 'outside day K-line', referring to the huge red candlestick on August 14th.'
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Link: Analysis: BTC may be repeating the pattern seen at the end of the 2021 Bitcoin bull market [Copy]
