Some crypto analysts expect Bitcoin’s price consolidation to end based on technical chart patterns and falling exchange reserves.
Bitcoin (BTC) price has been in a downtrend throughout June, as Q2 ended down nearly 18%. However, according to technical chart patterns, BTC price could be on track for a breakout. How long will the current consolidation last?
Technical analysis using the Wyckoff method points to a potential end to the current Bitcoin price consolidation.
Based on the Wyckoff pattern and decreasing Bitcoin exchange reserves, BTC could be gearing up for a breakout, according to crypto analyst and CryptoQuant contributor Onchain Edge.