lamppole
Short

BTC Still tumbling

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
There are no signs in the market that we should buy unless you are trying to make minimum margins.

The chart shows us this:
  • No base has been supported
  • Lower lows
  • Lower highs
  • Profit doesn't outweigh loss
  • Market continues to react with big sell-offs
  • Rallies have been ineffective

There is currently no fear for buyers to miss out on purchasing at lower prices. There have been no reversal signs present so they feel no need to buy until the price drops lower. Overhead bears and big market players continue to sway the market heavily.

BTC will continue to spiral down until these things start to change. We will have to watch the 3k test.
Comment:

Possible Bart move incoming? What do you think?
Comment:

BTC is trying to contest a weak bull signal. If it can pass, BTC can see a jump. However, I don't think too much will come of this in the long-term and we will still test previous ideas.
Comment: Following up on the earlier update.

We got a small bull run but it leveled back off as expected. This is still a very turbulent area so be cautious.
Correction- Not a big sell-offs, but increasing number of short positions..
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