Saylor’s Dump
Bitcoin’s ByteTrend Score remains at a score of 0 since 16 November. This is bearish.
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Bitcoin’s ByteTrend Score remains at a score of 0 since 16 November. This is bearish.
Bitcoin’s ByteTrend Score drops to 0., which means the trend is now bearish. The $100k level has been broken, and a bear market fits the four-year cycle thesis.
Strategy (MSTR), formerly known as MicroStrategy, is being dumped at pace. Investors bought MSTR as a Bitcoin proxy as the ETFs (or ETNs) were banned in major financial centres such as London.
The past year shows the $100k level in detail. This has the potential to be a major support level, as it has been tested so many times. But bad things can happen, so we shouldn’t count on it.
Do you remember the days when Bitcoin was really exciting? It’s not over yet, because the 200-day moving average is still rising, and a bull run could kick off at any time.
This has been the most disappointing October since the bear market of 2014, which saw a 12% drop. The uptrend is under threat.