Bitcoin technical analysis: BTC/USD bulls ignore the slump to $7,400 to focus the potential rally
|- Bitcoin bears ruthlessly forced Bitcoin through key support levels to refresh lows around $7,400.
- The short-term trend remains bearish but bulls remain optimistic of a potential end-year rally.
Spot rate: $7,598
Relative change: -16
Percentage change: -024%
Trend: Bullish
Volatility: Expanding
BTC/USD daily chart
Bitcoin price forms yet another falling triangle pattern giving investors hope that recovery is very possible.
The MACD returns into the negative region; the bearish cross signals the high presence of sellers.
BTC/USD 4-hour chart
Bitcoin's lower low pattern continues as bears explore how deep the rabbit hole goes.
The formation of a double-bottom pattern suggests that Bitcoin’s recovery in brewing.
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