In this episode of NewsBTC’s daily crypto technical analysis videos, we are examining past Bitcoin bear markets to see how much further we could have before a bottom is in.
Take a look at the video below:
VIDEO: Bitcoin Price Analysis (BTCUSD): November 9, 2022
Bitcoin price continues to set new low after low now that support has been decisively broken.
Expanded Flat Corrective Pattern Fills Out Further
The market is clearly bearish, but on the brighter side we have what could be the final wave in an expanded flat pattern. The push to new lows continues to fill out what could be a large falling wedge pattern. But considering the price action and sentiment out there, it is challenging to consider any bullish thesis.