The Bitcoin market is highly efficient at selling at the maximum point when the downtrend would finally stop. So each time when the market hit the maximum energy to go up long-term, the market goes down. This rejection effect is off course very strong.
You can think of it like a magnet, which has a force that pulls and attracts or repels other magnets. So each time when it was cycle wise the best time to buy Bitcoin*, but this opportunity was sold off, then market repelled with maximum force the uptrend direction. Which then resulted in a strong downtrend. This might be again the case, at least for a few days here, because we just had another Ichimoku kiss of death today.
* as signaled by Tenkan-sen (Conversion Line) (blue color) crossed above the Kijun-sen (Base Line) (red color)
You can think of it like a magnet, which has a force that pulls and attracts or repels other magnets. So each time when it was cycle wise the best time to buy Bitcoin*, but this opportunity was sold off, then market repelled with maximum force the uptrend direction. Which then resulted in a strong downtrend. This might be again the case, at least for a few days here, because we just had another Ichimoku kiss of death today.
* as signaled by Tenkan-sen (Conversion Line) (blue color) crossed above the Kijun-sen (Base Line) (red color)
