The purpose of this idea is not to spread FUD, but merely to share an interesting idea for discussion and to help us all attain a broader perspective and appreciation of the future possibilities.
Comparing BTC price crash of 2018 to the recent crash 2 months ago, we can see many interesting similarities.
Following the price crash from ATH in Dec 2018, BTC...
I will admit that my idea is speculative at this point, but hear me out.
While studying BTC charts across different time frame, I came to the realisation that there is a real possibility that we may be heading towards a longer term bear marker for BTC.
There are a few factors to consider when making our assessment.
1. The 50 week MA is currently climbing and...
Current price is finding small support of previous bottom of $38,310.
Further downside below this level will suggest the downtrend is not a retracement but signal a more sustained bearish sell off to the next target of 35K to 34K.
In the short term price action may see a slower rate of sell off or even a small rally as we are nearing the 200 MA support area....
On the 4 hourly chart. BTC is developing into a rising wedge with higher highs and low accompanied with decreasing volume.
Considering the larger picture, current price level of BTC compared to ATH is between the 0.236 and the 0.382 level, which would indicate the wedge formation to be a valid concern.
Secondary concern is the bearish divergence forming with...
