Bitcoin's Rollercoaster Ride: Record Highs, Liquidations, and Potential Drop to $58K
Crypto analyst Josh Olszewicz warns of a potential price pullback for Bitcoin due to the emergence of a bearish "rising wedge" pattern on its price chart, indicating a weakening of bullish momentum. The 10-day rate of change has decoupled from rising prices, suggesting a building downside momentum. Despite the expected pullback, Olszewicz anticipates it to be short-lived due to ongoing ETF inflows and continued buying from entities like MicroStrategy, making it challenging for bears to keep prices under pressure for long.