As you can see, our 50 day EMA is still holding within the Bullish channel. It is important that we move and hold out above the red zone or else we will assuredly drop to previous strong support around 42k. Bulls have been fighting to keep BTC in this direction, and so far, have been able turn the picture away from the doom and gloom we were seeing yesterday.
Many people believe the news of gov'ts cracking down on exchanges to decrease illicit/illegal/fraudulent abuses of cryptos caused this flash sale; imo, the sooner the better we can air out the bad actors in the crypto space which only help its legitimacy and growth potential in the future.
China's stoppage of mining in several provinces were due to some safety energy protocols and do not seem that they will have any long term effects as of now.
I remain bullish until proven otherwise.
Many people believe the news of gov'ts cracking down on exchanges to decrease illicit/illegal/fraudulent abuses of cryptos caused this flash sale; imo, the sooner the better we can air out the bad actors in the crypto space which only help its legitimacy and growth potential in the future.
China's stoppage of mining in several provinces were due to some safety energy protocols and do not seem that they will have any long term effects as of now.
I remain bullish until proven otherwise.
