There is a 57 percent chance of Bitcoin undergoing a bearish breakout, according to a standalone indicator. The warning pops at a time when the cryptocurrency is testing a 2.5-year-old trendline as its primary resistance. If valid, then the bitcoin price can fall towards $7,700.
Bitcoin’s price has been falling steadily since reaching its December peak, and some experts predict that this negative trend will most probably continue well into 2019. For instance, Bloomberg’s Mike McGlone believes that the king of cryptocurrencies could reach its bottom at the $1,500.
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