Bitcoin sellers tap out, clearing the path for a fresh run at new all-time highs
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" alt="Bitcoin sellers tap out, clearing the path for a fresh run at new all-time highs">Bitcoin (https://cointelegraph.com/bitcoin-price#:~:text=%2461%2C175.19&text=This%20chart%20shows%20the%20price%20only%20in%20USD.
that Bitcoin price could be forming the second low of a W-shaped pattern formation — a double-pronged bottom followed by an exit to the upside — on the weekly chart.“Classic Bollinger Band W bottom setting up in $BTCUSD,” Bollinger commented alongside a chart, adding that the pattern “still needs confirmation.”In this situation, Bitcoin’s drop to $76,600 on March 11 was the first bottom, and the recent drop to $74,400 was the second.If confirmed, BTC price could recover from the current levels first toward the neckline of the W-shaped pattern at $88,800 before rising toward the target of the prevailing chart pattern at $106,000. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
