I just saw this news on Binance this morning, and truly for the past few days Bitcoin seems to be depreciating.
On Jan 8 Bitcoin experienced it second-steepest daily decline which has now further lead to market uncertainties.
And according to Binance if Bitcoin closes below $90,000 on the daily chart, analyst warns of a deeper crash . And a confirmed inverse head-and-shoulders pattern could lead to a further 20% drop potentially targeting $71,500.
What are your take on this?
The lowest price that Bitcoin has reached through a correction in the last two days was $91K and now it has gone back up to $95K again, so at this point I don't think Bitcoin is going to correct quite as deeply as you are saying. We all need to be wary of what these analysts are saying, but that doesn't mean we should be afraid of what they are saying because some people would be more than happy to welcome it if it actually happened because they could just buy Bitcoin at a much lower price than the current price.