With a strong break below $40K we got some bad news bears. Technically it’s good news FOR bears.
The coming weeks are going to likely bring some serious pain for HODLERS. We closed below $40K which signals a coming attempt to break below $30K. This is going to scare the living sh*t out of a lot of people and just like that- the bear market is here. What we want to watch out for (if you are going to hold onto a bit of hope for the bulls) is the small chance that this is actually a bear trap. Any break below $35 will have to cause an abrupt bounce upwards to confirm this, but we aren’t going to hold our breath. Our opinion is that we are very likely to enter the bear market. This will bring many people an opportunity to get into crypto at bargain prices.