Not far from the truth! The whole sentiment right now in the bitcoin market is bearish and based on the pattern forming from the previous fall and the triangular formation afterwards, it is a bearish one that shows a further downtrend.
However, it is a market, and basically, we can only look forward to the break out which could be in both ways, just that it is more focused on the bear side now than the bull side. I am still bullish long term anyway, but still would not mind whichever way it comes, as long as you know how to take advantage of it for the future.
OP, what? No. The "dump" has been becoming weaker and weaker, and I believe that also means Bitcoin is now starting to find some support on the $6000 - $8000 range. It's a good opportunity to buy now.
Where is kwukduck's FUD? I need confirmation! Hahaha.
It is normal to see low volume in both ways in moments like this. It is more like the bulls and the bears trying to draw the rope to see who eventually comes out stronger when a triangle formation comes up, but for the fact that it is a triangle formation that has formed from a downtrend, it falls more on the bear side (
technically). However, it is until we see the break out like I said, before anything can be guaranteed.
