No, Bitcoin Breaking a Parabola Won’t Force BTC to Collapse to $3,0005.2

At least for the time being, Bitcoin (BTC) has lost steam. Since peaking at just shy of $14,000 in late-June, the cryptocurrency has seen a 35% retracement, falling to as low as $9,100 earlier this week.

With this strong correction, which comes shortly after many analysts were calling for Bitcoin to break $20,000 lickety-split, BTC has purportedly broken its parabolic trend. The trend, as depicted by many analysts, has held for over six months, making this break somewhat of a bearish sign.

Original source
https://www.newsbtc.com/2019/07/19/no-bitcoin-breaking-parabola-btc-collapse-3000/

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