MSTR - Will Bitcoin Slump To $20K Amid Increasing Middle East Tensions? Peter Schiff Doesn't Rule Out Possibility Citing Technical Pattern. | Benzinga
The geopolitical tensions that emerged in the Middle East following Iran’s drone-and-missile attack on Israel sent cryptocurrencies into a tailspin over the weekend. Economist Peter Schiff, who is a crypto bear, on Sunday flagged the possibility of the sell-off worsening.
What Happened: “$60K is critical support for Bitcoin (CRYPTO: BTC),” said Schiff in a post on X, formerly Twitter. A decisive break below the level will likely complete a “formidable triple top,” he said.
A triple top is a bearish technical pattern where the price of a security forms three peaks at nearly the same level, which acts as a resistance level. After the third peak, if the security pulls back below the trough formed between the peaks, it could mark the beginning of ...