There is a long term trend line that bitcoin briefly touched early this morning.
A break of that line would likely invite a lot more selling.
So far though, the price has respected that line and recently bounced off of it slightly.
This trend line has not been violated for close to 5 years:
(Source:
)https://twitter.com/TheMoonCarl/status/1237104176167075841
- TheMoonCarl
Bitcoin actually behaved slightly better than most today.
It didn't behave like gold, which was in the green today, but check these numbers out:
S&P 500 down 7.8%
Dow Jones down 7.7%
Bitcoin down 5.8%
The US stock market was actually more volatile than bitcoin was today.
When was the last time you saw that happen?
It doesn't necessarily support the safe haven thesis, but it was nice to see that bitcoin held up better than most today.
We will see what tomorrow brings.
Stay informed my friends.
-Doc
