This Pattern Suggests Bitcoin Could Plummet to $12,000 Before Uptrend Continues

En4mw48XYAI1RZh 980x548

Bitcoin and the entire crypto market are showing some signs of strength on this relatively quiet morning for the markets Following a brief bout of trading below $17,000, the benchmark cryptocurrency has firmly reclaimed this price region It is now attempting to push higher as bears lose steam, which could be a sign that its recent $16,400 lows are a long-term bottom Where the market trends in the mid-term will depend entirely on Bitcoin and whether or not it can stabilize One trader is now pointing to a pattern that indicates BTC could soon see a strong decline that sends it to $12,000 before it rebounds Bitcoin and the rest of the crypto market are currently caught within a bout of consolidation following the recent market-wide decline. This tempered trading favors bulls, as BTC and most altcoins have pushed higher over the past day. Where the entire market trends next…

Read the original article here