BTC is one step away from BEAR MERKET, I'm sorry to say but these are the facts!
On the weekly we broke the trend line with consistent volumes that have never been violated since January.
The only hope for the BULLs is a 37k rebound as I said at the end, but they have to find the strength to go beyond 40k to find the hope, it's the last hope!
Opening the chart of the day we are in a clearly bearish channel, but on the bottom as if that were not enough.
The fact that if we were to touch the TOP of the channel we would always be in this situation is not very satisfying.
What does BTC need to do to get back to breathing?
what am I drawing for you ..
CREATE A MINIMUM DOUBLE ON 37k AND RETURN ABOVE 40.5k.
all 10/30/200 moving averages are down.
Personally I believe in a bear market, but let's see, I hope not and to rebound.
n.b: The NASDAQ, which is a related market, confirmed a head and shoulders and according to the model it is already in the bear market
On the weekly we broke the trend line with consistent volumes that have never been violated since January.
The only hope for the BULLs is a 37k rebound as I said at the end, but they have to find the strength to go beyond 40k to find the hope, it's the last hope!
Opening the chart of the day we are in a clearly bearish channel, but on the bottom as if that were not enough.
The fact that if we were to touch the TOP of the channel we would always be in this situation is not very satisfying.
What does BTC need to do to get back to breathing?
what am I drawing for you ..
CREATE A MINIMUM DOUBLE ON 37k AND RETURN ABOVE 40.5k.
all 10/30/200 moving averages are down.
Personally I believe in a bear market, but let's see, I hope not and to rebound.
n.b: The NASDAQ, which is a related market, confirmed a head and shoulders and according to the model it is already in the bear market
