‘Game Over’ for Bitcoin, Claims Bearish Technical Analyst

“Parabolic moves are notoriously dangerous for short‐sellers … Usually a top develops that often appears as a descending triangle over months, with reduced volatility and little [fanfare]. Once the top is complete on the support violation, the security in question can often be considered permanently impaired or even ‘game‐over’. We are of course referencing Bitcoin as exhibit ‘A’ in today’s market.”

This is actually a good news article for the bitcoin bulls. This is a huge sign of a bottom, after bitcoin, or any market for that matter, falls around 80% someone coming out saying that that market is 'game over' and should be shorted now. Where were they for the first 80% drop? It's proven to be one of the worst strategies in investing, to make a prediction on the direction of a market after a huge move has already been made. With news like this, we're probably pretty close to the bottom in bitcoin....

Read the full article here....
https://www.ccn.com/game-over-for-bitcoin-claims-bearish-technical-analyst/