For the umpteenth day in a row, Bitcoin (BTC) has bled out. In fact, as reported by NewsBTC on Monday, the cryptocurrency fell as low as $8,000 last trading session, plunging by 5% as bulls failed to step in while bears asserted their dominance. This bearish price action, which has been going on for months…
It’s clear that Bitcoin is building towards a breakout. The cryptocurrency has converged towards supports in low-$9,000s, with volatility reaching multi-week and multi-month lows.Unfortunately for bulls, a textbook chart pattern is predicting that Bitcoin will break lower from this range, likely to fall towards the $8,000s.Related Reading: BTC Hash Rate Recovers to Pre-Halving Levels, But a…