I read a blogpost last week stating that Bitcoin chart isn't bearish.
Although the Bitcoin chart appears like it's a double top formation on the high timeframe.
This was the formation it had before the breakdown in 2021.
I am just wondering if this time is different.
Are institutions and Government demands on Bitcoin able to save the chart this time?
Do let me know your thoughts.
I can say the institutional investors and the governments involvement with bitcoin strategic reserves has to a large extent changed certain courses in the market history. One of such can be seen in the duration of this season's bull run, which has been one longer than others in bitcoin history.
I also can assume that the double top which the market has formed wouldn't be unconnected to the intense war conflict effect on the global economy arising from the Iran and Israel strikes. Am optimistic that this price fall is a momentary one on bitcoin price because the bulls isn't over yet.