Bitcoin (BTC): A Test of Patience – Rally Incoming?

Bitcoin (BTC) has continued to founder, and retail has left the crypto sector en ￰0￱ a ￰1￱ market that just keeps going up, why would anyone hang around in Bitcoin? It’s precisely at these times, when Bitcoin is most unloved that huge rallies can begin to ￰2￱ Bitcoin it’s always just a matter of patience. $106,000 horizontal support holds once again) for this reversal and so it might be expected that it climbs back to challenge the major trendline above (bold black line), and the all-important $116,000 horizontal resistance level. A much longer support trendline) that stretches back to August ￰3￱ issue with this trendline is the big dips in April this year that sent candle bodies through it, so it breaks the neatness of the ￰4￱ said, there are five other weekly touch points that vouch for the validity of the trendline.

Also, if one switches to a logarithmic view, the candle bodies are perfectly inside the ￰5￱ trendline is more reliable for the Bitcoin price than the shorter one above, which has generally seen the price collapse below it during these last three ￰6￱ longer trendline can be seen to shepherd the $BTC price up to an apex formed on the other side by the 8-year ascending ￰7￱ of these two trendlines will have to give, and this is likely to signal a bear market, or a continuation of the bull ￰8￱ ascending wedge pattern