This really is an unprecedented amount of red for bitcoin with no relief rally. It’s unlikely that bitcoin will continue to go down every week like this without any bounce. Even in a bear market it should bounce before going lower.
bitcoin has been trading sideways at 29k for a week and it seems like the bears may be exhausted, temporarily.
It’s too early to call but if btc continues to hold at these levels then I will be looking to trade the bounce to about $37k level. it could bounce higher.
Lots of panic today but the charts honestly look like we will get a decent bounce coming soon.
