BTC C U @ 30k M8 .. (and even lower?)

Bitcoin all time history index INDEX:BTCUSD

SocratesJnr

3 Day chart I like. BTC short/mid future, I do not like.

BTC has strong relationship with 50ma and 200ma.

After a long battle between them, BTC has always suffered a 50% death in price. Will this be the 3rd time?

I think so as the chart points out the bearish signs. This is a classic bearish scenario example.
– Bull Flag
– Breaking down from bull flag
– Rejected by 50ma
– 200ma support is being exhausted and showing weakness
– Volume is declining
– 41k acting as resistance

Let me know your thoughts below

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