Quote from: miningfool on February 25, 2018, 02:58:05 PM

Summary:
After a strong uptrend, and after a breakout of the bearish descending channel, the market saw a strong pullback.
The strong pullback marks a potential distribution trading range on the 30-minute candles.
New lows may be in store for bitcoin as it decides whether the bulls are too exhausted to keep the buying pressure aloft.
Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

I'm not very fond of TA, which is what we see here. My understanding of the current market is that many people had bought at 12k when the price first crashed in January, thinking it was a good buy. Now many of them are desperately trying to close their positions and call it a day for good. Since 12k has become kind of new high, we could expect the price to continue going down along the same pattern that we saw in late December and early January. If the price goes below 6k, which we shouldn't completely rule out, the pattern will have established itself. The point being don't buy into this rally, it is likely a bull trap.

Quote from: kueyen on February 25, 2018, 05:28:58 PM

I might be missing it, but the analysis does not provide any explanations as to why the bitcoin price is falling, no? The FUD looked like it was beginning to dissipate, we had broken the $10K resistance, but the price started to go down once again for no apparent reason. It has started to become very confusing for me.

People are trying to get away cheap.