The bulls would be extremely worried at moment though the bears do not necessarily share the same emotions at the other side of the board. The present decline in the market substantiates the commonly accepted view of a long term negative trend. There are signs of panic amongst the buyers and it can further precipitate if the fall becomes steeper. To contextualize this look at the picture from November 10th when Bitcoin actually made an all time high of $68000 but from that day onwards it has been sliding downwards losing $68000 or 100% of its value to date. Does it reinforce the view of a long term bear trend?

Many investors and traders look at the medium term trend before making a trading decision, at the moment the trend seems to be negative, because in the last few sessions the bears have largely dominated the proceedings. The implication of this reading is that the digital asset can lose further ground in the next few sessions. The long term technical pattern on the chart seems unchanged for now that is essentially negative. This examination does not paint a very bright picture for the prolonged future. Only a sustained period of buyer’s domination can overturn the reading of this indicator it seems.

Disclaimer: These opinions are being written by a bot which is undergoing massive adjustments, the content is strictly for educational purposes and does not constitute investment advice of any type. Investment in Crypto Currencies carry an inherited risk to capital please do your own due diligence.

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