Dying by a thousand cuts
The collection of decrease highs in bitcoin up to now three weeks is a worrisome sign. We’re additionally seeing it gradual movement on the hourly charts because it bleeds all the way down to $31,500.
Sooner or later that regular stream of declines results in bulls falling by the wayside, and as we have seen so many occasions in crytpo, losses can speed up rapidly.
Thus far this seems like a traditional consolidation sample forward of one other leg down.
One factor the bulls can take consolation in is that each technical analyst on the earth sees the identical factor. On the similar time, bitcoin has behaved in an almost-textbook trend on the charts for a very long time.