Bitcoin is likely to retrace to below $10,000 and very possibly visit $8,000.
As I have written in my previous articles last week BTC and for that matter most of the altcoins are in a bubble.
Corrections are inevitable as people take profits and others get scared. BTC is no different than any other asset. There will be cycles. It is impossible to predict where and when but playing the odds is so much safer than ignoring all technical indicators.
My tools tell me it is time to retrace now and this is healthy. I'll be buying when this completes.
Hold on to your keys!
Craig
