The $8400 support did not hold yesterday. Last week the Bears were in control and I was hoping that the Bulls will take over this week, but not yet. The bears are still in control.
Yesterday it looked like we were going to bounce off $8400. But the Bears came back in force and we went all the way down to $7763. Currently we are at $7915. The next support is $7394 on Bitstamp. I think this is very strong support. Bitcoin is a bargain now.
What will we need to get the Bulls back? More positive news? An event?
Here is Dan from the Chart Guys:
SBD and Steem is currently at $1.77 and $1.72. On Steemit the 3.5 average price is at $1.94. So out post values will fall tomorrow.
Here is the 30 day SBD chart from coingecko.com below. 30 days ago we were at $3.79. Today we are at $1.77. What a drop! 53% drop in 30 days. Eina!
Do you think we will break $7394.00 this week?
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Colin Brazendale
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I am a successful bitcoin cloud miner and affiliate of Genesis Mining and USI Tech. I have been mining for the last 19 months. I highly recommend Genesis Mining and USI Tech to earn bitcoin and make money online. I believe it is more important to earn income than hold assets. That is why I recommend mining crypto and blogging on Steemit.