Bitcoin Price Analysis Bear Markets Test Crucial Support Levels

This morning marked another bearish day in the crypto-space as the entire market cap continued its multi-week-long decline. As referenced in a previous BTC-USD price analysis, we have continued to test the neckline of a massive, multi-week-long Head-and-Shoulders reversal pattern. At the time of this article, the market is making its second test of the ascending trendline marked in yellow.Figure 1 BTC-USD, 6-hr Candles, Gemini, Head-and-Shoulders PatternA breakdown of the ascending trendline

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World Economic Forum Bitcoin Discussions Validate the Movement

The World Economic Forum WEF has long been a lightning rod of global discussion on economic, social and political trends. This years gathering in Davos, Switzerland, was no exception.Blockchain technology emerged center stage last week as a key discussion theme, receiving praise from attendees for its cutting-edge potential. Bitcoin and the future of cryptocurrencies, too, were highly discussed topics at the forum, not just casually but also in an official session and a few panel discussions.
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