creedyincredible

creedyincredible Updated 

Bulls are pathetic, the support level 4460 acts as resistance right now, and the first attempt from bulls were rejected totally by bears (plus the rsi touched the resistance level in the meantime) . To me there might be a weak second attempt to 4400-4420 before we see the downtrend continues. But instead of flush crash we can expect a gradual fade towards...

creedyincredible

This is a savage sell-off, technical can't win against fundamental. But for every sell-off there's a turning point, 56-58 can be a potential longing entry point since it hits the support zone and reaches the lower bound of declining channel. Stay patient and don't catch the falling knife. Any imprudent buying attempts have led to get account rekt. waiting for...

creedyincredible Updated 

Rsi has been held below 15 for quite a few days, which has never happend for quite some times. Buyers are trying to defense 4460 (in bitfinex) but no bulls follow up to sustain the rally. In my perspective the downtrend is only paused for the moment and we will see bitcoin drops to 3500 region soon or later. However, a cool down of rsi is essential for now as...