If we look on the weekly candle, then definitely yes !
The past week was smashing for many Bitcoin idealists.
Many people out there were hoping for an upcoming Bull run.
Let´s look at the reality.
On the weekly chart a long full length body bearish candle, is clearly visible; (bearish sign).
A massive imbalance in price occurred, the sellers were far stronger and pressed the price down.
The weekly candle closed underneath the 30 EMA, what could mean, that we are still in the bear market.
A strong volume confirmed the long bearish candle.
All in all the market tells us, that there is a big possibility of a trend continuation this week; downward.
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The past week was smashing for many Bitcoin idealists.
Many people out there were hoping for an upcoming Bull run.
Let´s look at the reality.
On the weekly chart a long full length body bearish candle, is clearly visible; (bearish sign).
A massive imbalance in price occurred, the sellers were far stronger and pressed the price down.
The weekly candle closed underneath the 30 EMA, what could mean, that we are still in the bear market.
A strong volume confirmed the long bearish candle.
All in all the market tells us, that there is a big possibility of a trend continuation this week; downward.
If you found this post helpful, like, comment, and subscribe!
Telegram Signals
t.me/NextLevelCrypto