Let's jump straight into business. As many Technical Analysts predicted yesterday - we are going down ! Yesterday I wrote Bitcoin Correction Is Not Over and essentially said that there are two levels to watch for today - 10,800$ first support level and the VERY strong support at 10,300$. Today bears are very active and stops were triggered around 10,000$, which took us directly to 9900$. However the bulls did a good job defending the key psychological 10,000$ level (for now).
Good question ! Most likely we will close below 10,300$ and today's volume is also a good indicator that a move downwards is the most logical move. We have to add that Tether/Bitfinex news also weigh on the markets.
There are people, who are bleeding badly from this correction. There is a point when a trader/investor just can't take any more pain and is willing to exit his position at any price. This is the time when smart money should be buying. Be ready, opportunities will present themselves.
