Technically speaking, the chart of Bitcoin looks godawful. Each bounce has been feeble compared to the prior decline.
The above chart is from yesterday but it hasn’t changed much.
Bitcoin is $3797 as I type. It bounced from around this level a couple days ago to $4125 and here we are again. The first level of support is just a bit lower.
Weekly Chart Support Levels
Those are simply areas from which Bitcoin bounced previously from pullbacks. It’s not a prediction that it will necessarily do so again.
As bad as that chart looks, consider Bitcoin Cash. It forked off Bitcoin and still maintains it is the “true bitcoin”.
Bitcoin Cash Crash
Chart from Coin Market Cap.
Bitcoin Cash Recent Crash
Don’t stick a fork in em yet. Cryptos are likely not done falling.
