After this week’s flash crash in Bitcoin and altcoins, sentiment is back to being bearish just like that. Bears are taking an “I told ya so” tone all over social media, pointing to early 2018’s “dead cat bounce” as evidence of the bear market to come. But according to a pitchfork channel tool drawn across important pivot points in Bitcoin price action, this flash crash could have been the last dip ever before the last leg up, the top is in, and the real bear market is here. The Great El Salvador Bitcoin Bloodbath The country of El Salvador this week rolled out its law allowing Bitcoin as legal tender. Pictures of signs at major brands like Starbucks and McDonald’s adorned with Bitcoin logos have made rounds across social media. Cryptocurrency adoption is happening unlike ever before. Related Reading | Bitcoin Price Bloodbath: Is El Salvador A “Sell The News” Event? During a day that was supposed to celebrate the game-changing crypto asset that gave birth to an entire industry of digital assets, it was instead a day of destruction. Bitcoin price fell by 20% on some platforms, or as much as $10,000 in a single day from local highs around $52,000. The cryptocurrency has fallen hard, but is holding at a key mid-point of a massive pitchfork channel. Last dip ever? | Source: BTCUSD on TradingView.com Pitchfork Tool Could Pin-Point Last Dip Before Bull Peak Pitchforks are usually as...
