What Type Of Pattern Is Bitcoin Forming Into? – Benzinga – Benzinga

Bitcoin (CRYPTO: BTC) is trading lower Thursdayin a cryptocurrency market that is down overall.

Bitcoin looks to be forming into a pattern thatcould be considered bullish despite the crypto beingdown the past few days. Bitcoin has recentlybeen trending on multiple social media platforms.

Bitcoin was down 3.72% at $58,115.32 Thursday afternoonat publication.

Bullish traders are looking for this consolidation period to happen and for the crypto to bounce back soon and begin forming higher lows. Bulls want to see the cup and handle pattern finish and for Bitcoin to see a strong December.

Bearish traders are looking to see the stock continue to fade lower and for the crypto to be unable to find an area of support. Bears are looking to see the crypto keep dipping and for traders to start getting fearful and sell their Bitcoin. This could possibly cause a strong bearish push in the future.

Photo: Francois Mckenzie via Unsplash

Join ZINGERNATION and earn ZING, an ERC-20 smart contract token we launched aimed to reward members as we build a community to find and share great trading and investing opportunities. Download the mobile app now, available on iOS and Android.

Click here, or sign up for our newsletter to explore more of Benzinga's Cryptocurrency market coverage, in-depth coin analysis, data, and reporting.

Originally posted here:
What Type Of Pattern Is Bitcoin Forming Into? - Benzinga - Benzinga