🐻 Bearmarket in Sight?

🙌Technical analyst Aksel Kibar has identified a potential head-and-shoulders pattern on Bitcoin’s daily chart, suggesting a potential trend reversal. If this pattern holds, BTC’s price could drop to around $80,000, close to its previous all-time highs. 

🚀Despite this bearish outlook, there are positive signs in the market. Research firm Santiment has noted an increase in stablecoin deposits on exchanges by large investors, known as whales, which could indicate a readiness for further cryptocurrency purchases. While this is not a guarantee of an immediate recovery, it is considered a bullish sign for the crypto market in late 2024.

$BTC