The Bitcoin market has been flip-flopping between bullish and bearish patterns over the last two months. Last month I expected the bull would eventually resume, but this weeks trading partterns show more negativity. Still, Bitcoin could be making new highs, but this is only likely in the short term, if support at 47k is not broken. Otherwise, I see a mid-term correction playing out that could lead BTC to as low as 27k and a new bear market. These statements are based on the latest pattern formed, and could thus be falsified if new pattern are formed that oppose the current ones (see George Soros' theory on reflexivity'.
