This Pattern Indicates A Coming Sell-Off For Bitcoin

4:55 pm, Sun, 31 July 22

Current Bitcoin Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y

The Bitcoin price is currently trading in a Diagonal Pattern in the 1-hour timeframe. This pattern helps us better understand exactly what the ETH price might be up to next and the key levels to watch.

We believe there is a very high possibility for us to see a -10% decline in the value of Bitcoin soon. And in this BTC analysis, we will be breaking down why as well as our bearish price scenario for this coming sell-off in price.

To trade BTC with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $4,450 Bonus and up to 30 days of 0% Maker fee when you sign-up and fund your Bybit account with our Bybit link

Claim up to $4450 in Bonus

100x Leverage

Bitcoin Diagonal Pattern

This Pattern Indicates A Coming Sell-Off For Bitcoin. Watch this price prediction in the 1-hour timeframe
This Pattern Indicates A Coming Sell-Off For Bitcoin. Watch this price prediction in the 1-hour timeframe

The Bitcoin price is currently trading in a Diagonal Pattern in the 1-hour timeframe. And right now, the BTC price is testing the resistance of this pattern, if this resistance holds, there is a very high probability that we might see a sell-off in the coming days.

A sell-off like this could easily become a -10% dump for Bitcoin as the price sells off back down to the base support of the Diagonal pattern.

But for this bearish prediction to remain valid, the Bitcoin price must respect and continue to trade below that resistance channel for the diagonal pattern in the 1-hour timeframe.

Ethereum Bearish Confirmation!

This Pattern Indicates A Coming Sell-Off For Bitcoin. Watch this price prediction in the 1-hour timeframe
This Pattern Indicates A Coming Sell-Off For Bitcoin. Watch this price prediction in the 1-hour timeframe

For us to confirm the start of this sell-off in Bitcoin, we need to see the price breakthrough and close below the $23,422 minor support in the 1-hour timeframe.

A price break below this minor support could see us selling off rapidly in the coming days. However, if this minor support continues to hold, the Bitcoin bulls will just keep fighting to push prices back up.

Claim up to $4450 in Bonus

100x Leverage

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $4450 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: