For me the graph looks pretty bullish long term. After 6 months of bear market and constant selling, there seems to be less and less sellers every week. Last few weeks BTC is consolidating aroun 7-8k, just above the bottom of 6k. This screams accumulation at low prices for me, and not distribution/selling.
Plus the Daily SMA is very supportive and has been at the 6700 level in march too (the pink line)
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Did not see that coming. Broke through supports like slicing through cheese.
it's all too fast though, feels like its forcing people to panic sell.
Long term does look bad though when I look at the daily chart, 50 EMA tested 200 ema and couldnt go above it last few weeks, and not it seems that the trend could be downards.
I just find it hard to believe were going to go much lower because of the fundamenals.