blockchaingetheworld

Weekly 20MA Bitcoin points to much longer bear market

Short
BNC:BLX   Bitcoin Liquid Index
In May 2014 after the bubble burst, bitcoin had a 65% rally and broke through the Weekly 20MA and it had it's first uptick since the pop. Everyone rejoiced, called the end of the bear market, and everything was just magnificent.

Does this look familiar?

The 2014 pump and the current pump we are in the midst of look remarkably alike which very simply point to similar psychology and thought patterns occurring within the people trading it.

This bear market has already proven to be longer and slower than previous, and I believe we are still have a long way to go.

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.