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Bitcoin Breaks Below Key Support (May 2020)

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Bitcoin Breaks Below Key Support

Bitcoin just crashed below a key support and is struggling to hold its ground lest it plunges further. The bulls are losing hope and the bears are preparing to take on the reins.

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  1. At 3:43 you say you will get bullish on the market if the price moves above your blue down sloping trend line. That's all very well and good on a daily or weekly chart, but you are displaying a 5 minute chart and the trend started only 24 hours earlier. It can break through that mini-trend line without much effort and still won't mean BTC has turned bullish.

  2. I remain bearish on Bitcoin both short-term and long-term. Our $1k target is still on the table. Nothing has changed. It's all playing out as anticipated. :')

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