Bitcoin Close to its 2018 Bear Market Lows!

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In a recent tweet, Popular Analyst Justin Bennett stated that Bitcoin is forming a large bearish pattern that could potentially push BTC close to its 2018 bear market lows.

As per Justin,  “Since late May, BTC has formed a descending triangle. The objective of this pattern is $5,000. Yes, that. This is probably a worst-case scenario for Bitcoin, and $12,000 comes before this.  But don’t rule it out.”

“If you apply a percentage objective to this instead of a price objective, you get a target of approximately $11,000 BTC, which is very close to the $12,000 support I mentioned above. Either way, I think we get lower prices later this year.” - Says Justin