UPDATE 2
This trade has been stopped out at 0.003 BTC!! It is always unfortunate when loosing a trade but losses are part of the game. The important thing is to keep your losses small and minimize risk.
In the first update I mentioned a new harmonic pattern was forming and it appears as if a Deep Crab has emerged.
If you look at my chart you can see the bears pushed price down into the predicted range at the 1.414 fibonacci extension of the AD leg (of the Deep Crab). This combined with the completion of Deep Crab are signals go long.
In addition, RSI is extremely overbought and sellers look like they could be exhausted here.
I will place a link to my upcoming analysis and future live trade here in this post.
Sorry. Just looks like a lack of buyers
@cryptorambler or it could be seen as a influx of sellers. With all the whales powering down and all the posts from individuals who are new to crypto cashing their winnings their is a lot of downside pressure.
It doesn't really matter if it is a lack of buyers like you said or a increase of selling like I said. The result remains the same, which is more supply than demand. I don't trade fundamentals but that's how I see it. Let's see if support holds at current levels and if this deep crab plays out.
Thanks for commenting @cryptorambler.