THE BITCOIN BEAR MARKET STILL ON MOVEMENT| BY @BLISSUJU - 10% PAYOUT TO THE COMMUNITY ACCOUNT

Good afternoon to my great family in this community today. I hope we all are in good health and currently having a good time. well, I am back once more to talk about the bear market which we are currently experiencing.

Last week it was something different from what we are experiencing this week. I can recall very clearly that, last week we were able to see a competition between the buyers and the sellers in the market.

And this result to the crypto currency price rising at night time and then falling when it is morning.

That was the manner of the crypto currency movement in the market as at last week and we got to see the movement was kind of even, also there was a day that the bullish market was more than the bearish market. but this is a different situation as of today.

There was a huge fall in the bitcoin currency price and this is really not encouraging to see.

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If you were with me yesterday, I made a post concerning the crypto market asking if the downtrend was over judging from an analysis I made using the support and resistance strategy to checkmate the market trend and know the future possible movement in the market.

After making the analysis, I noticed that the movement of the bitcoin price was taking a new level from the fall it went to.

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There was likely to be more buyers than the sellers in the market as at yesterday because the price was trying to recover from the recent fall.

And after making that analysis, I discovered that the lower lows did not get to the previous lower lows and that is to say, the fall in the bitcoin price did not went back to where it was coming from instead it was making more lower highs than lower lows.

on seeing that event I totally thought that we are going to be seeing an uptrend in no distant time but to my greatest surprise today, when I launched the crypto trading market to check how things were going immediately I saw the crypto currency market, I became more worried about what is happening.

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Today the movement of the bitcoin continued in a downtrend where it was before. the price fell down so well that I could not imagine.

Yes other days we have been seeing downtrends but today, the downtrend is huge that it affected the crypto market. this is the kind of market that traders are not expected to be seen. one should stay clear of this market because it can take all of your funds.

Just as we said earlier, there was a spike in price and this I believe has lure many traders into the trading market to place a buy other but here we are stuck in the bear market.

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As we all can see that the price is still struggling to come up and using the support and resistance level, we have seen that more sellers are currently dominating the market but there are two things involved in the market situation of the bitcoin, if the market move past the current resistance level, only then we will be sure of an uptrend that is when a breakout occur.

But when the market trend goes below the current support level than we will be confide to a downtrend market and hence a bear market it is.

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But above all, we hope to see a new level and movement sooner. thank you all for availing your time to read my article. see you soon.