Bitcoin Has Yet To See Further Downside

JefeCaan
JefeCaan
Apr 30, 2020 at 9:04 PM
Bitcoin has yet to see further downside. The current retracement in BTC/USD is certainly an indicator of how there is a lack of confidence in this recent rally. It happened too aggressively and too quickly. This is not sustainable even by the standard sof Bitcoin bulls. Most traders are waiting for a pullback even under the bullish case. For me, this was the nail in the coffin and I think there is too many people trapped in whose stop loss orders would fuel the next major decline that we are likely to see after some consolidation above the 200-day moving average for the foreseeable future. 
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