As we all know, Bitcoin is by far the best investment you could've made in 2009; That doesn't mean it still is in 2018. Trust me I'm not going perma-bear all of a sudden, but looking at the strength of the bulls at this position just makes someone think a bit harder about whats going on. So I've noticed that not a lot of people are posting about this HUGE Ascending Parallel channel we have going on, even though were running along it to the ticks, as you can see from the chart. Now carrying on about strength of the bulls, lets just say, its not looking good. The bulls have failed to break this huge descending triangle, (no that wick was not a break). And it seems they are accepting defeat as Bitcoin falls lower every day. I believe there is more blood to come, but this could be a bear trap for all I know, so I am watching this from the sidelines and not entering a position until a clear break is made.
Wish you safe trading! -Trader A
Wish you safe trading! -Trader A
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Let me know what you think in the comments!