Bitcoin price dips below $37K as a descending channel pattern comes back into play

The crypto market is once again in the red on Feb. 2 as global financial markets continue to see increased volatility. 

Data from Cointelegraph Markets Pro and TradingView shows that after spending the morning hovering around $38,200, BTC was hit with a wave of selling that pushed the price to $36,800.

BTC/USDT 1-day chart. Source: TradingView

Here is what several analysts and traders are saying about Wednesday’s Bitcoin price action and what areas to keep an eye on moving forward.

Bulls are…


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