Testing $4000 over weekend $bitcoin still in bearish territory
Bitcoin has become more bearish over the last few days after failing to maintain a steeper bullish channel (see prior posts) it tested near the key pyschological level of $4000 this weekend and appears to be finding some support on a the top of a bearish channel which means lower lows could follow after any brief dead-cat bounces, unless a major recovery follows. A break into the bearish channel could accelerate selling. Bloomberg reports of China attempting to ban bitcoin exchanges could be added pressure to bitcoin markets in Asia. Hurriance Irma devastation could bring market volatility during the US market open this Monday add intensity to any inter-market volatiity or sentiment with digital assets.
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