[Hassam]

In the video below that I made I show how ABCD Bearish Pattern was predicting a heavy downside on Bitcoin. Bitcoin price action is just like any other instrument whether it is stocks, commodities or currencies. Chart patterns like ABCD still work even after many decades of their discovery. Why? Chart patterns like ABCD work because they are the manifestation of human psychology ruling the market. Human sentiment is what causes these chart patterns to appear in price action. Watch the video and you will understand how powerful this ABCD chart pattern is. Bitcoin right now is trading around $37K. Will it go up and make a new historical high? We have no idea. In trading we can only react we cannot predict. We only know about the trend when it is over. Will Bitcoin survive this decade? It depends on the blockchain technology. With new developments in blockchain technology that are less energy intensive there will be a pressure on Bitcoin community to adapt and make the bitcoin technology more green. Right now Bitcoin mining is consuming so much energy it is equal to a three to four advanced industrial countries. The pressure is on. Then the proof of work also needs to be changed.