We see on the bitcoin daily three failed rallies! This is a code red and the bears have won the war! Bitcoin will continue down to 3k or even lower at this point.
There is a huge bear flag posted on the daily and this is not a healthy sign especially since bitcoin has failed three continued efforts to break back out.
I really hope I am wrong but I dont think I am and many sources are concluding the same. This may be the new death of bitcoin. Longer term I am still bullish but this week will be the temporary death of this phoenix.
Bulls put up a good fight but it wasnt enough for the bears. It seems Bitcoin was a ponzi scheme after all.
Question is how long can you hold these bags?
There is a huge bear flag posted on the daily and this is not a healthy sign especially since bitcoin has failed three continued efforts to break back out.
I really hope I am wrong but I dont think I am and many sources are concluding the same. This may be the new death of bitcoin. Longer term I am still bullish but this week will be the temporary death of this phoenix.
Bulls put up a good fight but it wasnt enough for the bears. It seems Bitcoin was a ponzi scheme after all.
Question is how long can you hold these bags?