When bullish patterns fail or break down it can be quite worrisome, however, the daily chart shows what could be support going forward.
Right here, right now, the thick blue and green line on the daily chart is support. If that fails, it's mid 3000 usd.
The old saying .......... catching a falling knife gets you cut.
When the herd moves, the stampede is quite consuming.
I do have to say personally, I'm not too worried. Only because the cryptos are a long term prospect / investment with a small amount of your bank roll in early and watch.
If your a short term trader......... you should have been out long ago.
Cryptos have 2 directions to go sky high or -0-........... personally....... I suspect....... sky high in the end.
whenever that's going to be.
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Yeah, this has been interesting indeed. Any long side trades were short lived and if you didn't take profits quick you took an L or are still holding the bag.
I'm working on a post now with a video showing examples of entries and why trading against the trend is tough sledding.
Will have to check it out.