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Bitcoin Price Analysis Bitcoin Sees Lower Lows as It Drops Below Historic Support

Over the last couple months, weve been tracking a potential Distribution Trading Range at the top of bitcoins market cycle. Today, we have received higher confidence that bitcoin may have topped out. At around 300 p.m. EST, bitcoin broke through the bottom of the trading range and is now seeing aggressive selling as long positions begin to close and short positions begin to open. Today marks the first day of lower lows since bitcoin topped out around $20,000Figure 1 BTC-USD, 4-Hour Candles, D


via Cryptoscout crypto scout

 

 

 

 

 

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