馃搲 BTC DUMP TO.. .馃搲
Bitcoin is doing whatever it wants as usual. Today has been extremely bearish and BTC started correcting this morning.
Unfortunately that spells trouble for most of the market as it was mostly red on Coinmarketcap all day. BTC making violent moves up or down, as we鈥檝e stressed before, beats up ALTs pretty bad. There鈥檚 been a lot of money pumping into the whole market the last few weeks so corrections are healthy and necessary馃憣
So where does it stop?
Impossible to say obviously, but we鈥檝e outlined a few supports on the chart below. Historically we鈥檝e seen BTC correct about 30-40% after huge runs. Right now we鈥檙e looking at a 25% dip (it looks much worse because 25% is $5k now days) so a little more downside isn鈥檛 unlikely馃搲
For most, holding is the safe play - and the least stressful.
For the traders out there, there could be a nice swing opportunity for you. Just be especially careful with all investments when BTC is this volatile馃搳
