Bitcoin (BTC) Dumping To $4,600 Might Be On The Horizon: Analyst

Since April 1st, the price action seen with Bitcoin (BTC) has been monumental. For the first time in months, the cryptocurrency market has rallied strongly and, more importantly, held gains. However, one analyst claims that Bitcoin’s rally is soon to end, and may be followed by a plunge to important support levels.

In a recent Twitter thread, Crypto Birb noted that Bitcoin’s weekly chart is “providing quite a strong warning signal for bulls.” He notes that the chart has seen a number of “spinning tops,” an often bearish candle structure that resembles a, uh, spinning top, that have yet to close above key resistance levels and far above the Ichimoku Cloud.

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