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BTC/USD: Bearish Pennant, Double Top Pattern Forms
Bitcoin price remained under intense pressure this week as demand, volatility, and volume continued falling. The BTC/USD pair retreated to 25,932, which was much lower than last week’s high of almost $30,000. Bitcoin’s consolidation coincided with the decline in American equities as investors waited for the upcoming Jackson Hole Symposium. The Dow Jones index fell by 142 points on Tuesday while the S&P 500 fell by 20 basis points. At the same time, the US dollar index surged to $103.46 while the VIX jumped to $17. A key concern among investors is that there is low demand for Bitcoin in both centralized and ... (full story)