Just drilling down into the BTC price action where we can see the 2019 uptrend line has been conclusively broken. Price action has retested the SSR and MA support-turned-resistance and appears to be failing.
Not sure how many people still remember the ride from $20k to $3k? I personally think this is a more important dynamic than any blue sky valuation for an asset with no underlying demand beyond speculation. I find it amazing lots of exchanges will happily take my cash in exchange for crypto but not allow me to withdraw cash when I sell. Definitely food for thought here...
Again please do not flame me, I am just an technical analyst who calls the lines as they fall.
Not sure how many people still remember the ride from $20k to $3k? I personally think this is a more important dynamic than any blue sky valuation for an asset with no underlying demand beyond speculation. I find it amazing lots of exchanges will happily take my cash in exchange for crypto but not allow me to withdraw cash when I sell. Definitely food for thought here...
Again please do not flame me, I am just an technical analyst who calls the lines as they fall.
