ជាមួយនឹង ទីផ្សាររូបិយប័ណ្ណ still in a rut and Bitcoin (BTC អ) struggling to reclaim the $20,000 mark that many have been eyeing for the past several weeks, there could be more bad news in store for the largest crypto.
Specifically, a ការវិភាគបច្ចេកទេស (TA) indicator is displaying a descending triangle pattern similar to the one Bitcoin exhibited during the ទទួលបានទីផ្សារ crash of 2018, as សង្កេត by crypto sunmoon, an analyst at the crypto analytics platform គ្រីបតូក្វាន់ នៅខែតុលា 19 ។
To drive the point home, the analyst posted a chart that shows these similarities, adding that there were a couple of participating factors to take into account when observing such a behavior:
“The movement of long-term hold Bitcoins has decreased, and price volatility is becoming very low.”
Furthermore, should the present descending triangle pattern of Bitcoin’s movements continue, in addition to deviating from the ការគាំទ្រ, the analyst predicts that:
“If the current descending triangle pattern is completed and the price deviates from the support line, there is a possibility of a last crash in the bear market.”
More bleak predictions
Earlier, the 3-day សន្ទស្សន៍កម្លាំងដែលទាក់ទង (RSI) for Bitcoin showed a pattern of increase which, combined with its price action at the time, indicated a សម្ពាធលក់ខ្លាំង on the maiden cryptocurrency.
ក្នុងពេលដំណាលគ្នា, ពាណិជ្ជករគ្រីប and analyst Josh Rager identified the so-called ‘bouncing ball pattern’ in conjunction with a rally, for which he voiced his pessimism, stating that “it never ends well,” ដូច ហ្វីនបុល រាយការណ៍មុននេះ។
Not all analysts agree
That said, a TA indicator shared by the pseudonymous crypto analyst ពុកមាត់ suggests that Bitcoin might be in for a ការជំរុញដ៏សំខាន់ឆ្ពោះទៅរកការឡើងលើ, adding to his previous predictions that Bitcoin would “soon surprise everyone.”
លើសពីនេះទៅទៀត, Bitcoin’s market capitalization has dwarfed both that of social media giant Meta Platforms (NASDAQ: META) and the banking giant JPMorgan (NYSE: JPM), which control a market capitalization of $360.58 billion and $349.31 billion, respectively.
As things stand, Bitcoin’s market cap at press time stood at $368.21 billion, as the price of the flagship digital asset amounted to $19,194 with no significant change during the past weeks.
Indeed, its current price represents a decline of 1.98% over the past 24 hours, but is still an increase of 0.29% across the previous seven days, according to CoinMarketCap បានយកទិន្នន័យនៅថ្ងៃទី 19 ខែតុលា។
ការមិនទទួលខុសត្រូវ: ខ្លឹមសារនៅលើគេហទំព័រនេះមិនគួរត្រូវបានចាត់ទុកថាជាដំបូន្មានវិនិយោគទេ។ ការវិនិយោគគឺជាការប៉ាន់ស្មាន។ នៅពេលវិនិយោគ ដើមទុនរបស់អ្នកមានហានិភ័យ។
Source: https://finbold.com/bitcoins-descending-triangle-resembles-2018-bear-market-crash-more-pain-on-the-horizon/