Guys, Bitcoin is at 71.7k now. We haven't seen this price in almost three months.
The last time it was below 72k was August 20, right before that big rally. Tonight, it's given back some of those gains.
My post at 3 p.m. said I was leaning bearish, and if 72.7k broke, it could head for 72k. It broke within an hour of the US market opening, and the low was 71.3k. That call paid off.
72.7k used to be support; now it's resistance overhead. If the price bounces there but can't get back above it, this drop isn't over.
Trading volume is back above $29 billion. This isn't like the low-volume drift of the past couple of days—people are really selling this time.
My view hasn't changed: still leaning bearish. 71.3k is tonight's low; if that breaks, the next level to watch is the 70k mark.
If we really hit 70k, I'll let you guys know right away. #BTC $BTC
The last time it was below 72k was August 20, right before that big rally. Tonight, it's given back some of those gains.
My post at 3 p.m. said I was leaning bearish, and if 72.7k broke, it could head for 72k. It broke within an hour of the US market opening, and the low was 71.3k. That call paid off.
72.7k used to be support; now it's resistance overhead. If the price bounces there but can't get back above it, this drop isn't over.
Trading volume is back above $29 billion. This isn't like the low-volume drift of the past couple of days—people are really selling this time.
My view hasn't changed: still leaning bearish. 71.3k is tonight's low; if that breaks, the next level to watch is the 70k mark.
If we really hit 70k, I'll let you guys know right away. #BTC $BTC
