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Bitcoin Consolidating in Bearish ‘Rising Wedge’ Pattern
Bitcoin has gained 36% in two months, offering relief to the battered bulls. However, according to Crypto Twitter, the recovery has suddenly drawn the shape of a “rising wedge,” or a bearish pattern, on price charts and could be short-lived. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
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Rare Signal Hinting at Bitcoin Price Bottom Emerges
The bitcoin mining difficulty ribbon, a rare signal comprising short- and long-duration simple moving averages on mining difficulty, has compressed for the first time in over a year, suggesting bitcoin’s decline may be flattening and now is the best time to add exposure to the cryptocurrency.
