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Bitcoin Price Analysis: Forming A Bear Sign Is Possible


As expected, the past week ended with a flat. The range of fluctuations is so narrowed that the candle is almost invisible in the weekly chart.

The most of community resigned to the fact that the price is clamped in a narrow range and now in order to get out of it, there should be some serious news that will affect the further course of events.

During the week, some analysts wrote that the price has broken the long-term downtrend, but it looks like that we are still under the trend in the triangle.

On the 4-hour chart, the situation is similar to August-September, when the price of a fortnight grew smoothly and then sharply collapsed, forming a bearish flag. Perhaps now something similar is being formed, but with a smaller amplitude and slope.

In any case, I think that if we break a downtrend, then before that we should lay a loop down to scare away the remaining bulls.