VFCrypto

Bitcoin Still In "Do or Die Zones" - Strap Up

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Since late last month we have been covering Bitcoin on the long-term ( 5 year ) chart. We outlined it sitting on the most important support zones in years. In our ( Visionary Financial ) most recent market report, we outlined bearish fundamentals are appearing for the first time in a while on network momentum, MVRV and Mayer Multiples. Check out the report here.

Based on the fundamentals we wouldn't be surprised to see it dip below the 100 day moving average at this point. It continues to show weakness in momentum. If it does drop below, you could argue long-term bear trend is forming based on the historical price action prior to dropping below this key support. We will keep on watch - any day now it should decide north or south. Watch out if we go south...


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Thanks for this observation
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