Bitcoin

The price of Bitcoin has experienced significant swings and has dipped to below $62K as the conflict between Iran and Israel intensifies. Bitcoin, at the time of writing, was at <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">$61,270</a> with a slight decline of 0.38% in the last 24 hours. The decline correlates to geopolitical risk but analysts are optimistic on the trend despite the drop. Others expect that Bitcoin will recover following these correctives to the previous trend.A recent post by a technical analyst, CoinsKid, points towards a significant pattern on the Bitcoin chart. As per the analysis, <a href="https://cryptotale.org/global-liquidity-surge-fuels-bitcoin-bull-run-potential/" rel="noopener noreferrer nofollow">Bitcoin</a> is creating a diamond bottom pattern on the 8 hour time frame which is a major technical reversal chart pattern. This pattern normally indicates a reversal indicator that gives a view that the downtrend is over and that there might be an upward move round the corner.The analyst also pointed out that there’s a bullish divergence on the four hour chart. This divergence might mean that even if the Bitcoin price has fallen, the trend could be turning bullish. As per technical analysis, bullish divergence is a clear signal towards the opposite – as the market shifts the trend from bearish to bullish. This means that Bitcoin is likely to rebound and move towards the $72,000 mark.<a href="https://cryptotale.org/btc-dips-below-62k-diamond-bottom-signals-bullish-breakout/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

BTC Dips Below $62K, Diamond Bottom Signals Bullish Breakout

CryptoTale

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