Bitcoin: Too much negativity is calling for prudence

Now that there is abundant pessimism on the cryptos, the falling wedge formation on the daily maybe signaling a countermove to come. The overall trend is unquestionably down and there is no evidence of a turnaround whatsoever.

Bitcoin May, 2022

Technical analysis is not an exact science and so more in crazy volatile bear markets like the one unfolding in BTC. The thesis about BTC’s diversification from the equity market took another big hit in the last few weeks. Looking at the chart, a weak-looking trendline support is lurking below. This post is for educational […]