Hello crypto friends. It's been a while -- apologies. Markets have been flat so didn't have much update.
This looks to be like a pretty confirmed move though. I think we will likely see a bear break continue from here.
We're in short term consolidation coming off the dump, so the next few hours I'd expect to be consolidation before another leg down.
The initial break had huge volume, likely triggered by tons of stop losses.
Support will be really looking toward the $9k level. We're still in monthly inside bars, and will be looking to hold $9,071 as the low to maintain. Any bear break from that will likely trigger a longer move down to test lower supports.
Hope you've all been doing great!! Should be trying to post more updates again more frequently, so stay tuned!