Bitcoin has been on a downtrend for over two weeks, without any sign of recovery yet. By extension, it's also driving the whole cryptomarket down with it. The 4h chart is showing a downtrend, and if we are to see any sign of recovery, Bitcoin has to break that trend. Lower low peaks have been occurring every 5 days since 5 May, so if the tendency continues, we should keep an eye on what will happen on 20 May. Hopefully a breakout. The RSI is showing a convergence, i.e. lower peaks too, which corroborate with the candles chart, where the volumes are mostly red (selling).
click to enlarge
Let's hope the market recovers soon from this continuous bleeding.
DISCLAIMER: I'm not a financial nor a professional adviser. I formulate my opinions based on my research and interpretation of market news and chart analysis. If you're not a professional investor, please educate yourself before doing any market trading and don't risk more than you can afford to lose.
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