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Could Bitcoin (BTC) Scale Back Even Further? Analyst Thinks Crypto Needs To

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Bitcoin Bull Market Might Not Have Started

Bitcoin (BTC) is very cyclical. Over its ten years as a tradable asset, it has followed a set pattern, which can be easily charted. This is why Magic Poop Cannon, an ill-titled analyst, has recently begun to raise red flags, noting that the ongoing rally might be a “huge fake out”. In a recent TradingView post, Magic laid out his thoughts on the matter, postulating why BTC could fall from here, potentially to new lows.

He explains that strong, correlated increases in the Money Flow Index (MFI) and Network Value to Transaction ...

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