Emergency update on BTC
because there's a lot of panic selling. I'll start off by saying BE COOL. It would have been nice if BTC
tested $9,600 but the markets, like life, doesn't always give us what we want. Currently BTC
has decisively broken below the Fib's .236 and is likely to head down to $7,300 where there's a LOT of support. There's always going to be chatter about a $3,500 Bitcoin
and while anything is possible, don't get suckered into believing that just yet because until it drops below the current Fib and long term baseline, $3,500 isn't going to happen. Stay calm, wait and see how the market responds to support and trade accordingly. If BTC
drops to support, you'll see it form a triangle where it'll either break one way or the other. I'd wait until that happens before making any knee-jerk reactions to the recent drop.