Bitcoin / U.S. dollar BITSTAMP:BTCUSD
In terms of price action and the trend towards the close of this monthly candle, this was decisively the worst close on record.
Every other monthly close showed signs of seller exhaustion by producing that lower wick on each of the previous red candles.
Not only does this close show the strength of the Bearish Trend, but it also closed beneath the last critical support.
Also, pay attention to the RSI Trend Line in the chart, there still is room before a bottom is set.
Simply put, this is either the greatest Bear Trap in BTC’s history or the trend has been solidified.
