We have been bearish in the last 6 weeks or so, and every time we try to break $40k barrier, it always failed. So that is a indication that in short term, we might be really on a bearish trend.
Whenever bitcoin price recovers and try to break $40k, we hear a bad news. China banning Bitcoin mining, yeah like it is a new one and like China didn't do it several times in the last few years. Inner Mangolia restricting bitcoin, like it isn't a part of China so where is the scoop! Iran banning Bitcoin mining, a click bait news for a restriction imposed by Iran for mining in the summer to avoid electricity shortage. Then comes Musk trolling tweets and so on...Eventually all of this is temporarily and bitcoin will recover, by tomorrow?, after a couple of months? a couple of years? I am holding and waiting
