The Pitcairn market has not changed relatively on Wednesday, and continues to move below the $ 5000 level. We have clearly broken down significantly, and now we seem ready to move towards $ 4000. I also think it's a matter of time before we break below $ 4,000 and open the door to much lower levels. The advances at this point should be sold, and I think the $ 5000 level will continue to offer a lot of resistance. In the end, the market seems ready to fall further as there is little interest in Pitcairn currently. I think there is not much of a stimulus for this market to advance, so we continue to back down.
At this point, I think we are looking at a market that can not hold on to any bullish momentum. I think people there are talking about big investors throwing large quantities of bitquin in the market so they can buy it at a cheap price later, usually people who did not enter the financial markets before, and they are certainly not professionals. If you want to know how far back the Pitcullin might go, the answer is zero. I do not necessarily think that this will happen, but it is clear that we will retract significantly based on the big break down. You will notice how the volume has greatly improved when you break down, in a market that has been forgotten over the past months.
At this point, we need to close at least above the 50-day exponential moving average on the daily chart before thinking about buying in this market. Frankly, I think that short-term advances continue to be opportunities for sale.