Bitcoin Analysis

6 Mar 2022

Bitcoin price action appears to have entered a channel pattern. This pattern often occurs at end of a trend. If this is the case, we could be coming to the end of the sell off of bitcoin and consequently the entire crypto market as a whole since bitcoin is the lead dog in the market and often depicts the direction the market will take. A good time to invest in any altcoin will be when bitcoin breaks out of this channel. If bitcoin breaks below the channel and we see a close below 28k, then this will confirm the continuation of the bear season.