#BTC drops below 81,000
$BTC Current price: 80,770, just over 200 points above the 24-hour low of 80,513. The high was 82,060, the day's range was 1.92%, and trading volume was 920 million. Nineteen coins are down and only three are up—the broader market really hasn't been doing well these past two days.
I've always thought the 80,500 level was more important than 82,000. If it breaks, price will look lower for the next gap; only a move back above it would mean the shakeout is over. I'll go with whichever direction sees a surge in volume. My bias is bearish; if it climbs back above 82,060, I'll admit I was wrong.
Volume is so light right now that there's no need to pick a side just yet. What do you think—will 80,500 hold?
$BTC Current price: 80,770, just over 200 points above the 24-hour low of 80,513. The high was 82,060, the day's range was 1.92%, and trading volume was 920 million. Nineteen coins are down and only three are up—the broader market really hasn't been doing well these past two days.
I've always thought the 80,500 level was more important than 82,000. If it breaks, price will look lower for the next gap; only a move back above it would mean the shakeout is over. I'll go with whichever direction sees a surge in volume. My bias is bearish; if it climbs back above 82,060, I'll admit I was wrong.
Volume is so light right now that there's no need to pick a side just yet. What do you think—will 80,500 hold?