With a little over 24 hours left in the week bitcoin is trading back below 30K. One is more noticeable to me is the green candle we had for the week is sitting near breakeven with a large upper wick only a sneeze away from turning red.
Could we see a 10th straight red weekly candle? It is very feasible at the moment.
And the beat goes on...
What's funny is I care more about the candle type and that upper wick than if we see the candle go red.
After getting a rally above 30K you'd think there would be atleast a relief rally from all the selling to the 34K area. A small modest bounce, literally a relief rally, but we didn't even get that.
The reality is, one decent green day pretty much made up the "bounce."
I have been saying for a while I think bitcoin will get into the mid 20's and potentially lower. This price action isn't doing anything to change my mind.
Some whale buying out of nowhere can always shift the tide, but right now seems to just be more of the same.
And the streak continues, potentially....