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Bitcoin Technical Analysis: Reasons Not To Buy BTC At This Point (May 2020)
Bitcoin remains on the verge of a really devastating decline. Like always, most retail traders would not realize it until it’s too late. All the temporary bullishness in the stock market and Wall Street’s reaction to Moderna’s work on the vaccine gave the stakeholders in this market to delay the inevitable a bit but they cannot stall it for long. There’s a huge honeypot of long positions that is too lucrative for the market makers and whales to ignore and not take advantage of. Going long on the market at this point makes no sense at all from a risk/reward standpoint.
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