. 3 days prior to Xmas Day Selloff
. Bearish Cross on 3-Day (only third time in BTC's history, all previous ones set up a new midterm-6months market with 50% losses)
. Bulls shorted at 7500 peak three days ago achieving 15% gains :dollar:
Only men blinded by pigheadedness wouldn't see the massive dump that it's comming.
As you can see BTC is repeating the same pattern which was played out the previous year, just quicker.
The above chart is showing up 200EMA indicator, a solid indicator for BTC.
On the other hand the volume is decreasing, which supports the idea about sideway trading = further price crash.
As previously discussed, 200EMA is so far away, minning costs for most machines are around 3k, and otherwise, bear in mind about minners have been able to still minning with losses for an average 6months according to previous halvings.
In a nutshel, most of indicators show up strong SELL signals.
There's a huge descending triangle which has been forming when BTC hit 14k 5 months ago, this retracement was expectable.
Furthermore, there's an special interest for whales about stretching out the bottom ($3.000) in order to make bigger gains in late 2020 (Expect a cup and handle pattern which plays the keyrole for trend switcher).