{"id":384695,"date":"2019-06-02T18:00:43","date_gmt":"2019-06-02T18:00:43","guid":{"rendered":"https:\/\/ktsl888.com\/?p=384695"},"modified":"2024-06-11T13:43:43","modified_gmt":"2024-06-11T13:43:43","slug":"analyst-bitcoin-btc-bears-near-exhaustion-investors-should-be-wary","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/analyst-bitcoin-btc-bears-near-exhaustion-investors-should-be-wary\/","title":{"rendered":"Analyst: Bitcoin (BTC) Bulls Near Exhaustion, Investors Should Be Wary"},"content":{"rendered":"

For the umpteenth weekend in a row, the cryptocurrency market has rallied. On Sunday morning, Bitcoin<\/a> (BTC) shot up by some 3%, with the asset breaking past a short-term resistance level. Despite this occurrence, which most analysts see as a signal that the ball is clearly in the bulls’ court, there have been some that are still wary of an impending correction.<\/p>\n

Related Reading: Bitcoin (BTC) Price Weekly Forecast: Technical Bias Signaling Fresh Increase<\/a><\/h6>\n

Chances Of Bitcoin Correction Growing<\/h2>\n

According to a recent Twitter post<\/a> from Josh Olszewicz, an analyst at Brave New Coin, Bitcoin’s one-day chart is starting to show signs that bears are starting to creep into the cryptocurrency scene. He explains that Bitcoin is currently trading in a rising wedge pattern, which if not broken past, often acts as a catalyst for a bearish trend reversal.<\/p>\n

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1D $BTC<\/a><\/p>\n

RW + Bear Div <\/p>\n

im sure the backtesting results on $BTC<\/a>'s RWs actually playing out as a reversal is poor, but here it is nonetheless pic.twitter.com\/1pIJFKkGVp<\/a><\/p>\n

— #333kByJuly2025 (@CarpeNoctom) June 2, 2019<\/a><\/p><\/blockquote>\n