Bitcoin below 6165 - look out below!

With the global markets in some level of crisis mode and the focus turned away from Cryptos, I strongly believe any price move below 6165 in Bitcoin could be very dangerous. I know all of the Crypto-bulls are going to keep writing me about "whales" and all that, but please understand that Cryptos have not proven to be all that and more as the promise had been many years ago. There is still nothing of real value that is added from Cryptos and the hype is, obviously, over.

If someone were to come to me and say "hey, this new crypto provides real value to consumers in combination with strength, protection, long term ROI and true security", then I might start to listen to them. Right now, that is not the case and that is the basis for my believe that further devaluation is going to happen before any real upside move occurs. The bottom line is we saw the hype move to nearly 20k - what is left?

Watch the 6165 level folks. It could be a breakdown to $4500 real quick.