How long will Bitcoin’s price consolidation last?
Some crypto analysts expect Bitcoin’s price consolidation to end based on technical chart patterns and falling exchange reserves.
Bitcoin’s (BTC) price has been in a downtrend throughout June, as Q2 ended down nearly 18%. However, according to technical chart patterns, BTC’s price could be on track for a breakout. How long will the current consolidation last?
Technical analysis using the Wyckoff method points to a potential end to the current Bitcoin price consolidation.
Based on the Wyckoff pattern and decreasing Bitcoin exchange reserves, BTC could be gearing up for a breakout, according to crypto analyst and CryptoQuant contributor Onchain Edge.
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Author: Zoltan Vardai
