Cryptocurrencies

Bitcoin: The Pullback Was Bound to Happen, Duh.

It wasn’t a matter of it, but when.  And I will tell you what, prices got higher than I thought they would before we got a pullback.

BTC (and the big caps) dumped hard in a single hour

A few hours ago we saw BTC, ETH, and others dump hard a provide us with a big fat red candle before rallying off the lows.

BTC is currently down 800 points from yesterday’s close and we could see more downside over the next 24 hours.

Looking at the chart you can see things topped out at 8,350 or so, which happens to be a prior top on the weekly chart, before dumping down to that 6800 level in the matter of minutes and then bouncing off it.

That’s a positive though that it came back down to that key level and rallied right away.  If price stays above 6800 I consider that bullish.

I’d love to buy some back at 6800, let’s see if I get another chance.

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