• BTC was down by more than 1.5% in the last seven days. 
• Metrics pointed out that BTC could undergo a trend reversal soon. 

Bitcoin [BTC] has not offered much on the table of late, as its price has been moving between $43,000 and $42,000 for quite some time.

This price action resulted in the formation of a triangle pattern on the king of crypto’s chart.

From here on, there are two possibilities for BTC’s upcoming price movement. Let’s take a closer look at what they are and which way BTC is most likely to move in the coming days.

Bitcoin to move southwards soon?

According to CoinMarketCap, Bitcoin’s price had dropped by more than 1.4% in the last seven days as it slipped under $43,000.

At the time of writing, BTC was trading at $42,708.51 with a market capitalization of over 483.7 billion. This declining price action kept Bitcoin’s Social Dominance high in the last week.

However, bearish sentiment around the coin increased sharply, as evident from the massive dip in its Weighted Sentiment on the 5th of February.

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Author: Dipayan Mitra

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