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thedutchgopher

A close below $40k is confirming the bear market

Bitcoin (BITSTAMP:BTCUSD)  
thedutchgopher Updated   
BITSTAMP:BTCUSD   Bitcoin
Trend Analysis Chart Patterns BTCUSD
2
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trendanalysis chartpattern btcusd
A monthly close below $40k would mean BTC is going in a bear market that could force a test of the $18k support as a possible next scenario. When comparing BTC to the GBTC chart i`m even more convinced that this cycle is done.
Comment:
Comment:
Trade active:
The neckline is broken

snapshot
Trade active:
The 200w MA is starting to look more and more like a support area i would be interested in making a trade.
Trade active:
GBTC double top on the monthly, neckline broken.

snapshot
Trade active:
Downtrend continues as expected
snapshot
Trade closed: target reached:
It was in the charts all along:
snapshot
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