Bitcoin Price Analysis: Possible Bear Pennant Suggests End to Market Consolidation

Looking back at bitcoin's parabolic curve, we can see notable lines of support and resistance throughout its market cycle. Two highly reliable sources of support and resistance are the set of 50/200 EMAs and the Fibonacci Retracement set from the beginning of the bull market to the top of our current …
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Bitcoin Price Analysis: Possible Bear Pennant Suggests End to Market Consolidation (bitcoinmagazine.com)

Looking back at bitcoin’s parabolic curve, we can see notable lines of support and resistance throughout its market cycle. Two highly reliable sources of support and resistance are the set of 50/200 EMAs and the Fibonacci Retracement set from the beginning of the bull market to the top of our current all-time high:Figure 1: BTC-USD, 1-Day Candles, Macro TrendOver the last couple days, bitcoin has attempted to break the overhead resistance surrounding the 38% retracement values and the 50 EMA…

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