Bitcoin (BTC) is trading within a bear flag pattern that projects a breakdown toward the sub-$50,000 area, or roughly 30% below current levels. However, Michael Saylor’s Strategy could spoil the bears’ plans. Normally, a bear flag remains a bearish continuation pattern because there is not enough demand to overcome the broader downtrend. In Bitcoin’s case, however, Strategy has been taking supply off the market faster than miners can replace it. Since March 2, Strategy’s Bitcoin holdings have risen by 46,233 BTC, while miners have produced only about 16,200 BTC over the same period, meaning it has absorbed nearly ... (full story)