bitcoin has broken some important support levels , the next expected move is to see the quarterly lows again ,fears on sanctions in china , cutting of funding of chinese investors through hong kong and money moving into gold to hold it around 1300 are some of the reasons putting btc in a bear trend now ,Also the crash from 18000 to 6000 has definitely scared away lots of new investors ,bitcoin needs to show some stability in prices around 8000 and some dashes upwards to gain new investor confidence otherwise we could be in a long term bear situation , which i should say for bitcoin is not a surprise as it has happened before.
the next lows are expected to hit pretty soon , currently i dont think it has the fire power to go lower than 5800 but that will be reassessed when we get near those levels .
so current trade is too short till 6000
the next lows are expected to hit pretty soon , currently i dont think it has the fire power to go lower than 5800 but that will be reassessed when we get near those levels .
so current trade is too short till 6000