Beginning of the real bear market
As we all know BTC has taken a beating in the last few weeks .Many have different theories as to why the market went down so much,but here using Technical analysis the reason is very clear ...
in late 2015 BTC had a huge increase in volume and created a bull pivot as well as a bull MA crossing.This ignited the bull run
BTC in the last few weeks has done the opposite igniting the start of the real bear market, right now chances of reversal are very small.If bitcoin fails to hold this 3300-3400 region price range it can see another huge fall almost making this impossible to reverse.**We will keep our short position open , we see no reason to long right now**.
i expect this bear market to last for a while.