Bitcoin Technical Breakdown Continues
Bitcoin continues its technical breakdown. On the 1-day chart the 50-day EMA has crossed below the 100-day EMA. You'll also notice Bitcoin price has dropped far below the 200-day EMA as well.
In addition, Bitcoin has fallen below the Keltner Channels, which is something I had mentioned as a possibility in the past.
On Balance Volume (OBV) is at an extremely low level. The last time OBV was at these levels Bitcoin price was closer to $100 than $200.
Expect the pain to continue.
In addition, Bitcoin has fallen below the Keltner Channels, which is something I had mentioned as a possibility in the past.
On Balance Volume (OBV) is at an extremely low level. The last time OBV was at these levels Bitcoin price was closer to $100 than $200.
Expect the pain to continue.
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