As we draw near the end of 2019, the events surrounding Bitcoin on a weekly basis are growing increasingly important, as how BTC trades within the next couple of weeks could set the tone for where it trends in the first part of the new year.<\/p>\n
This past week, the markets saw interesting price action that largely favored bears, signaling that BTC could see some notable downside in the near-term. In spite of this, the cryptocurrency\u2019s macro outlook still remains incredibly positive due to the continuance of irresponsible global monetary policy.<\/p>\n
Over the past week, buyers on major cryptocurrency<\/a> trading platforms like BitMEX sparked fleeting rallies that resulted in BTC forming massive wicks on its candle chart.<\/p>\n Some of these movements were incurred in a matter of mere minutes, with BTC\u2019s price surging<\/a> hundreds of dollars before fully retracing right back down to where the rally started.<\/p>\n Big Cheds, a popular cryptocurrency analyst on Twitter, spoke about these \u201cshenanigans\u201d in a recent tweet while pointing to the most recent wick formed by the cryptocurrency.<\/p>\n \u201c$BTC #Bitcoin 1 hour – Lots of shenanigans,\u201d he explained while pointing to the chart seen below.<\/p><\/blockquote>\n $BTC<\/a> #Bitcoin<\/a> 1 hour – Lots of shenanigans pic.twitter.com\/KDfIBNVIsv<\/a><\/p>\n — Cheds (Trading Quotes) (@BigCheds) December 9, 2019<\/a><\/p><\/blockquote>\n\n