TradingView
Barries
Feb 23, 2018 8:10 PM

BTC Continuing Downtrend Short

Bitcoin / United States DollarCoinbase

Description

This is my take at the moment - seems the downward trend is still going and BTC is struggling to break through..
We may see around $6500 before we bounce of the longer term uptrend.

Need to break that downtrend though :/
Comments
mmmp12
Nope. No support. 6K can be sliced through. No strenght in price. Weak price action. Transaction count lower than in whole 2017.
Fuel for mooning has reached boiling point, and now we are going down.
Barries
@JA.piotr.bor, you dont think the longer term trend will hold?
mmmp12
@corneliusjohannesbarnard, For time being yes.
If what is going behind the scenes what I think is going (with research, which I have done) - in a few months we will slice through it.
It can be first real bear market for BTC (this in 2014 was a joke).
Barries
Note the 200 MA - perhaps a bit of support
More