Bitcoin price was traded above $7,100 and there was a clear uptrend pattern no one had imagined that this red line will show up from nowhere. There are some logical reason which can explain these lines
Tax-filling day is nearby and people are trying to sell bitcoin so that they can pay there taxes they were waiting for bitcoin to show some kind of uptrend so that they can make profits and pay there taxes from the profits. There are chances of this happening again until the Tax-filling day is over.
Asian countries like Pakistani's and Indian's are also selling there coins after warning from RBI and SBP that bitcoin is not a legal tender and they do not like to provide banking services to anyone who is involved in virtual currencies.
Late April could be the time for uptrend but no one is sure about what will happen next. One thing is sure uptrend is due and this will happen soon if there will be no other bad news as bad news can shake the market.
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I wish some veteran market players and more understood bubbles. Bitcoin and crypto look like shit.
I believe that we will continue sinking and all bounces are going to be sold for the next six months, however this is a major accumulation stage for the next bubble and move to $500k per coin...