Tony Severino forecasts a potential Bitcoin price correction to mid-$80,000 based on a Lower Time Frame Head and Shoulders pattern. The analysis includes a symmetrical triangle indicating price pressure and suggests a possible rebound towards $90,000 before another decline. The market awaits to see if this is a bear trap leading to new highs.

A new price forecast for Bitcoin has been shared by Tony Severino, a notable crypto analyst. He predicts that Bitcoin is poised for a significant correction, potentially dropping to mid-$80,000 levels. This projection is based on the emergence of a Lower Time Frame (LTF) Head and Shoulders pattern on the Bitcoin price chart, a technical formation indicating a bearish trend.

In conclusion, Bitcoin’s current trajectory suggests a potential significant drop in its value, indicated by the formation of a bearish Head and Shoulders pattern. While some analysts speculate a bear trap could emerge before Bitcoin rebounds to new highs, the general sentiment remains cautious amid the recent market downturn. Investors are advised to remain vigilant and conduct thorough research before making investment decisions.

Original Source: www.newsbtc.com

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