Previously the capitulation that we seemed headed for stopped abruptly, and we created a high low. BTC has now confirmed 5th lower high in series with a high volume dump that cough most people off guard. The longer this trend goes on the less likely it is to continue i believe, although we will not call its end until the market proves the trend invalid. We are back under old resistance again although i do not give it much credence anymore since we have successfully broken it twice. While the top half of the pattern has been consistent in its lower high pattern which is typical of a bear market, the bottom is a series of switches between lower lows and higher lows. If this pattern continues a lower low is the next most likely scenario. In order for oversold conditions to be met on the daily RSI at this point it would be 5,600. Hopefully next we will get the 5k long trigger i have been writing about and waiting for.
