continues its technical breakdown. On the 1-day chart the 50-day EMA
has crossed below the 100-day EMA
. You'll also notice Bitcoin
price has dropped far below the 200-day EMA
In addition, Bitcoin
has fallen below the Keltner Channels
, which is something I had mentioned as a possibility in the past.
On Balance Volume
(OBV) is at an extremely low level. The last time OBV was at these levels Bitcoin
price was closer to $100 than $200.
Expect the pain to continue.