BTC Analysis 29Mar Critical Moment

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC continues its path of lower highs and lower lows on its way to retest 6k. ETH and others have nullified their long term trendline support that began in 2017. It is critical for BTC to close above the 300 day moving average at 7250. Failure to do so signals that perhaps this bear market is not near its end and is going to extend. Death cross is imminent and supports a longer bear cycle. If you've managed your risk and position size well it means that you are sitting in USD with a huge majority of your capital. For those people this becomes a great opportunity for buying once a reversal is confirmed. I personally look forward to buying at 5k and 3k if they happen. If you find yourself on the other side of the market, its because you have been fighting the trend constantly like some of these top traders and newbie investors, the market is the greatest teacher. The only real mistake is the one from which we learn nothing.

Comment: Closed below 300D sma
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