As Bitcoin dips to $60,000, top analyst warns bearish channel could plunge it further to $52,000
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A descending parallel channel is a chart pattern characterized by two descending trendlines that frame the price action of an asset. This formation usually indicates bearish sentiment as the price moves within a limited range. In this scenario, traders make sure that the price stays below the upper trendline, while frequently testing the lower trendline. When the price breaks below the lower trend line, it often signals further declines. has turned lower.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.Sabai Protocol Partners with Victus Capital to Accelerate Tokenization of Real-World Assets
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