Substantial chart damage, if $2.24 fails, look to $0.34Unfortunately, if 2.24 fails to hold, and at the speed, this is dropping it does not appear that it will hold, this one could go back to the pennies. Strong support has failed at every level, including $3.50 and $3.34 which should have held in my opinion but did not. Yes, it's oversold, but its continued sell-off may indicate something more substantial here. Just because it may be oversold here does not mean this will bounce back, on the contrary in fact, it has thus far continued selling-off. In my opinion, something is just not right here and it could be that the business fundamentals are not lining up hence the steep sell off. One could make the excuse that this sell-off is predicated solely on bitcoin, but that doesn't jibe with the greater than 75% loss in value from its high? In my opinion, I think it best to bail out if you already haven't and sit on the sidelines to see what's happening here to preserve your capital. I'm wondering if there is an issue with the merger which would explain why the equity is under such HEAVY distribution. Your thoughts?
