Bitcoin Faces Potential Downturn Amid Expanding Diagonal Pattern
- Macro economist Henrik Zeberg warns that Bitcoin is nearing a significant peak, risking a sharp downside move.
- Zeberg’s analysis indicates Bitcoin’s price is forming an expanding diagonal pattern, suggesting increasing volatility with higher highs and lower lows.
- A potential final surge could push Bitcoin to the mid-$150,000 range before a predicted crash of up to 97% or more.
- Momentum indicators such as RSI and MACD show bearish divergence, supporting the negative outlook on Bitcoin’s long-term price action.
Henrik Zeberg’s analysis suggests that Bitcoin might be approaching its peak due to an expanding diagonal pattern on its monthly chart, indicating increased volatility and risk of a downturn. The projected final surge to over $150,000 could precede a dramatic price collapse similar to the dot-com bubble burst.
With momentum indicators showing bearish signals, Zeberg predicts a potential crash of up to $3,000-$4,000 from the peak level, highlighting substantial risks for investors holding through this period. (Source)
