Bitcoin Price Analysis Bitcoin Sees Lower Lows as It Drops Below Historic Support

Over the last couple months, weve been tracking a potential Distribution Trading Range at the top of bitcoins market cycle. Today, we have received higher confidence that bitcoin may have topped out. At around 300 p.m. EST, bitcoin broke through the bottom of the trading range and is now seeing aggressive selling as long positions begin to close and short positions begin to open. Today marks the first day of lower lows since bitcoin topped out around $20,000Figure 1 BTC-USD, 4-Hour Candles, D

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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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