RATE Group | Bears in Charge as Bitcoin Price at Risk of November 2018 Style Dump
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Bears in Charge as Bitcoin Price at Risk of November 2018 Style Dump

21 Aug Bears in Charge as Bitcoin Price at Risk of November 2018 Style Dump

Posted at 22:01h in Bitcoin News by

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Throughout much of 2018, support at $6,000 acted as the absolute Bitcoin price floor, with each time bears pushed the price of the first-ever crypto-asset down to the range, it would reverse and rally – only to stop short of ever setting a new higher high.

But in November, the unthinkable happened and took Bitcoin price down to the deepest depths of the bear market, finally reaching a bottom. Now, one crypto analyst says that they are expecting a “November 2018 style dump” to happen once the symmetrical triangle Bitcoin is currently in breaks down, and panic begins to ensue across the crypto market.

Bitcoin Price Breaking Below Triangle Could Trigger Mega-Dump

The bear market may long be an afterthought at this point, but that doesn’t mean that bears can’t once again get the best of bulls, who have exhausted most of the buying pressure during Bitcoin’s recent parabolic rally that topped out just before final bear market resistance.

The rejection at $13,800 has caused

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