Earlier this month, Barchart’s Senior Market Strategist John Rowland, CMT, weighed in on the bearish chart signals flashing for Bitcoin (BTCUSD). At the time, Rowland wrote:
“If the price closes decisively back below the prior breakout zone, it will confirm a failed auction and open the door to a broader correction, one that could unwind months of speculative gains. For traders and investors, the risk is not in missing the next leg higher, but in ignoring the early signs of market acceptance failure that often precede a meaningful trend reversal.”
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