Bitcoin price has continued its descent after breaching an extremely bearish continuation pattern. The recent sell-off seems to be happening after the FOMC meeting and suggests that is mainly driven by long-term holders that purchased BTC in 2021 and 2022. Bitcoin price in search of stable footing Bitcoin price has created a bearish continuation pattern referred to as a bear flag. The pattern contains a massive downswing followed by a consolidation phase. A breakout from this coiling-up often results in the price continuing its descent. For Bitcoin, the 52% crash from its all-time high at $69,000 to $32,837 created the […]