Hello Steemians!
We've seen some well expected pull backs in the cryptospace as of late. Personally i find it reassuring, since the market bulls was unsustainable. What this gives us is an opportunity to reassess our positions in the altcoins space and re-allocate appropriately, or just hold and ride the volatility for the long term.
Technical analysis help us to navigate emotional trading and see where the trends are . The past few pull back in bitcoin were in the range of 30% down market.
This gives us an indication of where this pull back is heading. There seems to be an hesitation to sell more or buy back in around the 1900/2000 level. Personally i think we will find proper support at the 1800 level. I'm expecting some side range trading until we bottom for this base level. In order to reenter , we need to be patient and see the support base touch 1800.
Ps: These are my personal opinions. No Investment advice. Do your own diligent research before investing !
