Cryptocurrency Investing Blog: Long-Term Bearish Signals – Investing.com

Cryptocurrency Investing Blog: Long-Term Bearish Signals – Investing.com

Since October 2021, our working thesis, based on weak underlying technical data within the cryptocurrency space, has been bearish.

In October 2021, was in an uptrend and approaching all-time highs. The problem was that the advance was occurring on very weak volume and approaching major resistance (all-time highs). You can view these updates on our website: Cryptocurrency Investing Blog | Asset Solutions

Since hitting marginal all-time highs in November 2021, Bitcoin has retreated and is now in a confirmed downtrend and looking weaker by the day. The cryptocurrency has now dropped decisively below its long-term uptrend line and historically this has been a precursor to additional crypto market weakness.