Bitcoin’s short-term price action is still without bullish momentum, and according to macroeconomist Henrik Zeberg, the longer-term outlook may be deteriorating as well.
Henrik Zeberg shared a strongly bearish assessment of the market’s current structure in a post on the social media platform X with the conclusion that Bitcoin is no longer behaving like an asset in a healthy expansion phase. Instead, he described Bitcoin as approaching an important peak, warning that the current structure carries an elevated risk of a sharp downside move once that peak is in place.
Bitcoin’s Expanding Diagonal Points To Price Top
Zeberg’s Bitcoin outlook is based on the expanding diagonal structure on Bitcoin’s monthly candlestick timeframe chart. This long-term pattern, which has been playing out since Bitcoin’s creation, shows
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