It seems the previous trend that were challenged a couple of months ago is no longer in play. A secondary trend is now in play but lower and with 4 tests it fails to break. To me it seems BTC is running out of steam at these prices and seems to be mostly driven by bots and impulsive transactions that has no legs. We currently heading to the tip of the triangle which comes from a down trend and in 90% of the times, breaks down to the downside.
So, both the lack of upwards volume and the fact that we'll see no bot traffic, BTC has no other place but to go down. Where it will stop, who knows, but it seems we have a 85% possibility of breaking down.
So, both the lack of upwards volume and the fact that we'll see no bot traffic, BTC has no other place but to go down. Where it will stop, who knows, but it seems we have a 85% possibility of breaking down.