Bitcoin Technical Analysis: Continuation of the Bear Market or Bear Trap?

Yesterday Bitcoin tried breaking above the $4,120 resistance on Coinbase. While price was able to briefly wick above, it was unable to decisively penetrate. The bears quickly pushed it back below $4,000. Even though we watched price drop nearly $400 in 4 hours, volume remains relatively strong in comparison to just 2 weeks ago. In fact, we’ve seen the highest daily volume in at least 9 months over this past week.

Looking at the daily chart, we can see price found support right on top of the 21 day EMA.

In today’s video analysis I discuss if this latest drop looks more

About the author: Workin 2005

Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom