Technichally we have bear divergences in both daily macd and rsi. We have a broken trendline, a daily macd bearish crossover and a stochrsi daily bearish crossover.
Moreover we have a bullish exhuberance reaching an end after a crazy 820% increase in 12 months and a 2050% increase in price in 24 months.
The community inside problems (Bitcoin cash, Bitcoin Core and Bitcoin Segwit x2), the potential of "fake" money being used to pump crypto's and the inability to reach new fools to poor more money into the market should lead to a price decrease over the next few weeks/months.
RSI bearish divergence StochRSI bearish crossover MACD allows a violent and long bear market
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Breaking meaningful support now. Closing daily below 3940 would be bearish and point down to the 3-3.3k area
Fundamentally, the bad "news" that could help our short. Bitkan, the largest chinese OTC trading platform is closing doors due to new regulations. Yunbi, once the biggest exchange by volume, is closing doors too in 3 months due to regulations. JPMorgan CEO says bitcoin is a scam Bitfury also drops out of NYA, F2Pool already did it. That's about 12.5% of the hashrate of bitcoin.
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