Bitcoin, and so the entire crypto asset class, is in make or break zone

This graph shows how the 50day SMA approaching towards 200 day SMA for BTC. Now note below points :

1. 50 day SMA has stayed above 200 day SMA since November 2015.
2. 50 day SMA if has gone below 200 day SMA, then there is a potential of 50% correction from that point. And that bearish phase can continue for 0.3 - 1 years. And BTW it has happened between Aug 2011 - Dec 2011 and Sep 2014- Jul 2015.

Therefore, either an upward journey will start soon or a maximum correction from here could be all the way downto apprx 3000 USD and that bearish phase could extend for a year.

Another important point to look at is mining profitability of major crypto assets. Below are latest details from CryptoWarz

And it is clear that mining all these coins has become loss making to uneconomical. And whenever that has happened in recent past -the prices have bounced back.

Stay tuned and cross fingered.