Bitcoin fading away while world digests regulation and dumping
I drew this chart over a week ago, let's see if price continues to follow the pattern outlined. Bitcoin fades as uncertainty in its future does not change. Until there are answers to the regulatory puzzle, Bitcoin will continue to fizzle away. The other downward pressure has to be the Bitcoin being dumped on the market from Mt Gox. There's also the suspicion that Satoshi Nakamoto may also release the $1 million Bitcoin further pushing price down.
I provide expert guidance for crypto traders using Volume Profile and pattern recognition tech
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.