We broke the 200 day SMA and the downtrend is continuing.
RSI became oversold on daily and downtrend is becoming steeper.
We must bounce hard on the 300 day SMA marked with white and an very old uptrend line marked with dotted green.
A lot of FUD is coming in and it looks like a very well coordinated attack on crypto as a whole. Every day there seems to be some news, and todays news is SEC, CFT Chiefs set for senate crypto hearing. And that means a lot of fear to the people.
But even if the trend breaks and the downtrend continues, they cannot stop the technology that is blockchain. And furthermore Bitcoin might go down even more, but that means it will just take more time to go back up. When stock market bubble popped and everything crashed everyone thought it was over. You only hear how the market crashed... But please, take a look at the same market today where it is compare to the peak before the crash.
For a few people reading this, thanks that my thoughts do not go in the thin air and if you like, put a thumbs up :)
RSI became oversold on daily and downtrend is becoming steeper.
We must bounce hard on the 300 day SMA marked with white and an very old uptrend line marked with dotted green.
A lot of FUD is coming in and it looks like a very well coordinated attack on crypto as a whole. Every day there seems to be some news, and todays news is SEC, CFT Chiefs set for senate crypto hearing. And that means a lot of fear to the people.
But even if the trend breaks and the downtrend continues, they cannot stop the technology that is blockchain. And furthermore Bitcoin might go down even more, but that means it will just take more time to go back up. When stock market bubble popped and everything crashed everyone thought it was over. You only hear how the market crashed... But please, take a look at the same market today where it is compare to the peak before the crash.
For a few people reading this, thanks that my thoughts do not go in the thin air and if you like, put a thumbs up :)
Note
If we bounce around 6100 USD we could shoot up a couple thousand in matter of hours, so be preparedNote
This just became good news. Hopefully it is enough to end the fudwashingtonexaminer.com/sec-chairman-were-not-undermining-bitcoin-just-warning-about-its-risks/article/2648138
Note
Nice bounce. Lets see where it goes next
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.