BTC is currently exhibiting a pattern we saw in 2022.
Back then: double top → sharp decline → short correction → further 38% drop. After the initial decline, the price moved sideways for 3 weeks before dropping again. Currently, we are also in the 3rd week of the correction phase. If the pattern repeats, BTC could still decline further before a strong rebound. The structure still indicates a bearish trend unless key resistance levels are broken.
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BTC is currently exhibiting a pattern we saw in 2022.
Back then: double top → sharp decline → short correction → further 38% drop.
After the initial decline, the price moved sideways for 3 weeks before dropping again.
Currently, we are also in the 3rd week of the correction phase.
If the pattern repeats, BTC could still decline further before a strong rebound.
The structure still indicates a bearish trend unless key resistance levels are broken.