Bitcoin bear market is comming
#Bitcoin price behavior is going on as I expected.
Bitcoin price is moving in a triangle which is a continuation pattern and the bitcoin was in a down trend prior to this consolidation.
After last quick drop bitcoin is fluctuating in an up channel which can be considered as a huge bear flag (bearish pattern).
In lower time frames we can see that the overall patterns are suggesting bearishness
Yesterday during the Bitfinex maintenance we saw a spike up which tested the support line that was broken earlier and acted as a resistance and price was pushed back before reaching it.
Although the overall market perspective is suggesting further drop in price, we should also consider the possibility of a bull run.
Watch 6800$ as resistance for bull run
and
6400$ as support for down trend
#Bitcoin #Blockchain
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