Bitcoin’s recent rally has seemingly been bullish, bringing the asset above $10,500, then $11,500. As of this article’s writing, the cryptocurrency trades for $11,500. BTC may actually be trading in a textbook top pattern, though. The pattern identified by a trader predicts Bitcoin will reverse to the $10,000s, then lower towards the $9,000s. This may not be a macro bearish pattern though. Analysts say that Bitcoin retracing 30-40% during bull cycles is an entirely normal trend. In the 2016-2017 bull market, BTC saw a number of strong pullbacks, especially during the period of China FUD. Bitcoin Could Fall Towards $9,000s: Textbook Wyckoff Pattern Bitcoin may be prepared to break towards the $10,000s, then to the $9,000s according to a recent analysis. One trader recently noted that BTC’s chart since the end of July looks almost identical to a schematic depicted by legendary technical analyst Richard Wyckoff. As the chart below shows, BTC’s price action looks like Wycko...