A seasoned trader warns of a potential head and shoulders top pattern for Bitcoin, suggesting a possible price drop to $78,000.
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We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.As the year draws to a close, the attention of all crypto market participants is focused on where, and at what point, the price of the leading cryptocurrency, Bitcoin, will step into 2025. Despite hitting a new all-time high this month, Bitcoin is currently trading below this coveted mark, which is seen as more of a sign of weakness, even though it is still up 128% since the beginning of 2024. With the crypto market attracting many more institutions this year such as BlackRock, Fidelity, pension funds and the like, thanks to the launch of spot Ethereum and Bitcoin ETFs, the trend of declines at the end of December also affected them. This is exactly what shatters the hopes of crypto enthusiasts to end the year with a six-figure Bitcoin. A renowned trader with over 50 years of trading experience, says there is a clear head-and-shoulders pattern currently forming on the Bitcoin chart. This is a head and shoulders top pattern. It might complete and take price to $78,000; it might fail with a thrust higher: or, it might morph into something else. But as it stands right now, it is a head and shoulders top and must be chartist dealt with for what it is. The pattern could complete and take the price to $78,000 per BTC, says Brand
Bitcoin Price Prediction Head And Shoulders Pattern Trader Cryptocurrency Market
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