BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Losing the 200 day MA for more than a day or two has never happened during a Bitcoin bull market. Same with the 20W MA (currently at $9850).

We are in uncharted territory.

Comments

I think this was a needed really to take the buying pressure off of the market but all along, supply is the issue that is stopping bull runs. there is just too much coin available at certain prices in order to permit a bull run. So no this doesn't look like a bull run, rather the peak we needed after a long bear market sell in order to permit further selling off. Everything is still happening perfectly to allow a massive run, it's playing out like a story book really. We are already dealing with the supply and coins are being locked up for a new all time high on a daily basis. really I could go on and on but everything is playing out like it should.
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cryptostudi cryptostudi
@cryptostudi, It kind of seems like if the price get pushed down this time we could see a nice springboard. like if we do get down to 6.5k then a quick move to 10k, seemingly sporadically on a weekend.
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cryptostudi cryptostudi
@cryptostudi, Could this be the last time though. possibly, we push down and get back to 10k and it could be sideways, stuck there, until the pressure builds up. everytime we sell off though. supply is tightening up believe that.
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cryptostudi cryptostudi
@cryptostudi, there are wallets being generated with 6k bitcoin a piece. made from algos making free coins from volatility.
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Supply is in position to get bought up potentially..-
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YoungLivermore cryptostudi
@cryptostudi, Care to elaborate?
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yes it looks hodl !
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@Don_Llama, Technically it's not a bull market anymore if we can't stay above the key moving averages. But this could also be the beginning of a lower re-accumulation range. Such a strange situation.
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