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If History Repeats, Bitcoin Price Could Crash 33% Again: Here’s Why

NewsBTC LogoNewsBTC1w ago

If History Repeats, Bitcoin Price Could Crash 33% Again: Here’s Why - NewsBTC

Quick Summary:

Why Bitcoin Price Could Crash Another 33% Canfield’s analysis on TradingView hinges on historical patterns observed in Bitcoin’s pricing trends.“Historically, Bitcoin loves to retest the yearly open levels,” Canfield notes.

Gox Bitcoin Shift Unlikely To Disrupt Prices, Says CryptoQuant CEO "Since 2017, the yearly open has been retested every year except 2023 and 2024,” Canfield remarked.

The question is, do we form a bottom at the 2024 yearly open before more all time highs or do we capitulate all the way down to the 2023 yearly open at $16,500 like we did in 2019.” Crucial Indicators To Watch The answer may lie in several technical indicators that Canfield considers pivotal.

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-09 @ 14:00:15 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 557 words

Reading Time: 4 minutes read

Sentences: 66 lines

Sentence Length: 9 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 21555516

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 5 posts per day

Year Established: 2013

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News Last Updated: 12 hours ago

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