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Bitcoin bear trend now entered a bear market, as we see a red

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Bitcoin (BITSTAMP:BTCUSD)  
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BITSTAMP:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Technical Indicators
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Bitcoin bear trend now entered a bear market, as we see a red candle break below the EMA ribbon on a weekly chart. Historically this hasn’t happened before and it is a very bearish sign. The ribbon is usually able to provide a strong support when price breaks above it for about 1.5-2 years. This time it didn’t hold 5 months and now there are several bearish indicators.
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