Bitcoin has been in downtrend since earlier this year. Noticed how a descending triangle has formed since early 2018 all the way until today. There was a slight of hope at the end of July when it seems that Bitcoin's downtrend was about to end, until a false breakout was formed and it is now heading to another major support level at 6000. Also notice how number of daily traded volume has been reducing day by day, indicating potentially, investor's lost of interest in this cryptocurrency, to name a few.
By the looks of it, it would be a herculean task for BTCUSD to regain bullish momentum, as there are plenty of levels it needs to overcome before giving investor another confidence. In my opinion, inevitable bearish run will be continued.
By the looks of it, it would be a herculean task for BTCUSD to regain bullish momentum, as there are plenty of levels it needs to overcome before giving investor another confidence. In my opinion, inevitable bearish run will be continued.