https://www.cryptocoinsnews.com/wp-content/uploads/2016/07/Selection_20160722_006.png
Bitcoin price decline intensifies under the bearish conditions emphasized in yesterday’s analysis post.
It’s been a long time since we’ve seen the bitcoin price charts so bearish across timeframes. Of course, there is no other asset out there that even comes close to Bitcoin’s super-fundamentals (censorship resistance, cryptographic security, mathematical consensus), yet, being unregulated (and beyond regulation by design) and floating freely in the open market, the price chart is traded up and down like any other commodity – irrespective of fundamentals or news events.
The 4hr view is shown in the attached chart.
Breach of the ascending blue trendline signals that the largest players are willing to concede some selling – despite ample resources in a market with low liquidity, they failed to defend that trendline.
https://www.cryptocoinsnews.com/bitcoin-price-decline-100-confirmed/
Topic: [2016-07-23] Bitcoin Price Decline 100% Confirmed (Read 376 times)
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