benactonbond

Targets converge

Short
BITSTAMP:BTCUSD   Bitcoin
General mood around crypto is very negative. Overall market cap down to just $293B from its peak around $800B in December. Bearish sentiment is taking over as technicals show signs of big selling. One of the biggest indicators is OBV not reaching a decent level at the second peak on March 5th. The double top doomed BTC and we now see targets for a short term flag and the longer term double top converging at $7250. Head and shoulders pattern from January points to values of $2500. Not looking great for cryptos.
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