This Technical Pattern Just Flashed a Major Warning Sign for Bitcoin

shutterstock 1042301857 640x360

Bitcoin’s momentum has stalled after it broke above its previous resistance at $9,300 The cryptocurrency is now flashing some signs of weakness as it struggles to push any higher One analyst is pointing to a technical pattern that BTC is currently forming that is strikingly similar to that seen right before its massive plunge in March If this pattern does replicate itself, it could lead the crypto significantly lower in the days and weeks ahead It is important to note, however, that large whales on Bitfinex have been offloading their short positions, signaling that they anticipate the crypto to climb higher Bitcoin and the aggregated crypto market have seen some positive price action over the past couple of days. Although the gains incurred by BTC have been tempered, many altcoins have been able to outperform it significantly. Some top altcoins are even up over 300% since the start of the…

Read the original article here