Razor1911
Active member
Two weeks ago, when the news came out about China's policy to crack down on bitcoin and penalize bitcoin miners, the whole crypto market tumbled down. The market almost erased half of its market cap within 2 days. Bitcoin which was trading near 50,000 had a sharp fall to reach as low as 32000. All other crypto also followed the suit.
But it's more than two weeks when that happened. But still the market is unable to recover from that blow. Bitcoin, tried several times to get over the resistance 40,000 level but sellers pushed the price lower everytime. Now the price is trading near 34000 levels.
So, when do your analysis predict the market to get momentum like before. Will the market be able to break the upper resistance to make the second upward leg to reach new highs?
But it's more than two weeks when that happened. But still the market is unable to recover from that blow. Bitcoin, tried several times to get over the resistance 40,000 level but sellers pushed the price lower everytime. Now the price is trading near 34000 levels.
So, when do your analysis predict the market to get momentum like before. Will the market be able to break the upper resistance to make the second upward leg to reach new highs?