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Bitcoin Scary Pattern

Bitcoin failed to break the downtrend:

Yesterday it was worth seeing it struggling to break however Bitcoin failed to break the downtrend channel.

The Bitcoin price today is $57,592.75 USD with a 24-hour trading volume of $36,012,441,495 USD. Bitcoin is down 0.65% in the last 24 hours, with a live market cap of $1,087,812,808,988 USD. It has a circulating supply of 18,888,018 BTC coins.

Bitcoin failed
Source: TradingView

Bitcoin Failed: Analysis

Yesterday Bitcoin soared in hopes to break above the resistance level and make a higher high but settled only for a long shadow – another lower low. The trend continues as Bitcoin retraced back to the $56,000 range after going briefly in the $59,000 area. If we look into the chart above we see an example of a breakout from such a pattern of lower lows and higher highs. December starts today and we believe it’s the Bull’s time.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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