Bitcoin: poised to head lower slowly? Local patterns
Hi traders,
The big picture shows us typical a Bubble pattern formed with Bitcoin usd since january.
If we pay close attention to the local patterns, we can see that slowly, Btc is losing its value against Usd.
We have repetitive patterns of buy and sell prices with approxymately the same value.
The buy prices patterns of around 437$ happen less often and with a lower amount, than the sell prices patterns of 455$ that happen more frequently.
These repetitive patterns of buy and sell are making slowly Bitcoin lose its value facing Usd.
Btc also just broke its local uptrend support (blue line), which is not a very good sign.
Stay tuned, and let us see how Btc evolves, and if these repetitive patterns can break to turn Btc more bullish , or even more bearish.
The big picture shows us typical a Bubble pattern formed with Bitcoin usd since january.
If we pay close attention to the local patterns, we can see that slowly, Btc is losing its value against Usd.
We have repetitive patterns of buy and sell prices with approxymately the same value.
The buy prices patterns of around 437$ happen less often and with a lower amount, than the sell prices patterns of 455$ that happen more frequently.
These repetitive patterns of buy and sell are making slowly Bitcoin lose its value facing Usd.
Btc also just broke its local uptrend support (blue line), which is not a very good sign.
Stay tuned, and let us see how Btc evolves, and if these repetitive patterns can break to turn Btc more bullish , or even more bearish.
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