It's a landslide
Just been processing the last hour, but Bitcoin has taken a dive below the low established the other day at 8k.
And boy what a drop. Just look at that red volume!
I decided to close my long position just at the breakout of the low. It's looking really grim and likely to go down much more. We're on a TD red 6 on the daily and a red 4 on the weekly, so there could be 5 more weeks of red before any signs of a reversal.
I should have taken profit at a good time when the price was trading above 9k. I didn't have much but it was enough for a bit of a profit, and now it's turned into a loss. It's amazing how quickly the tables turn against you when you least expect them to!
I'm camping down below
It's not all bad news though, because there's always a light at the end of the tunnel. I sell at a loss now so I can buy back cheaper.
I'm sitting at 5-5.6k with my buys all spaced out. That way I can scoop up at the next key level down. This is the next level because there is no resistance between here and there. I've also placed my Ethereum buy orders at 500-550 and plan on moving those over to EOS once they fill. I'm on a quest to put together 1000 EOS tokens before the ICO closes!
More turbulent times ahead for Bitcoin but I'm hoping it'll come down more. Talk about a grim outlook :D