Level Bitcoin Bulls Need To Improve To Defend Worst Monthly Sale

Bitcoin's price has dropped more than 50% from its recent highs set just a month ago. The sharp drop currently represents the biggest drop in cryptocurrency history – but there are still a few days left to close the monthly candle. This means the bulls can repair the damage caused by the recent crash and keep the bull market structure intact. However, to do this, the price per BTC now needs to return to a losing key level and do so before the end of the month. Why Bitcoin Bulls Are Blinded By The Biggest Monthly Sale Of All Time Bitcoin's price has been in an upward trend for over a year limited to the launch of Coinbase Global on the Nasdaq exchange. The enthusiasm driven by a possible “ new paradigm '' in crypto was equally great back then. Related reading | Volatility Ahead: Why the chaos in Bitcoin and Crypto is just beginning, and institutions are finally here. There was no way to fix the market according to the crowd. He did it though, and it was especially disastrous as no one saw it coming. The overexposed lungs were destroyed for billions, and those who were overexposed in other ways soon regretted it. Edwards Special Tool Shows Worst Month Ever | Source: According to BTCUSD Bitcoin expert Charles Edwards at TradingView.com, the blitzkrieg resulted in the worst monthly candle ever. Edwards is responsible for creating some of the best crypto tools like the Hash Ribbons indicator. The special "drop%" tool shows how things get bloody (pictured above), but other analysts quickly believed that there was still time on a monthly basis to fine-tune the data. Evening Star Pattern: Can Crypto Bulls Reverse The Damage? This also means that the bulls have a chance to reverse the devastating candlestick pattern that remains on the Bitcoin price chart. A slow month in April with little movement resulted in a red doji candle at the top of the uptrend, followed by a big s.

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