#Bitcoin has had quite the day since our last screening. First off, we came down to our horizontal #support line as expected, but it happened a whole lot faster than expected. This was due to a whale selling off something like $400M in #BTC. That is what caused the dramatic dip (red arrow). It respected our support nicely with a huge surge of volume as the #bears and #bulls battled out for that position (blue arrow & circle). However, we have since slowly trickled down below our support. I am not quite ready to say we broke it as I will wait for a 4 hour #candle to open and close beneath it, but it is not looking promising. If we do not hold, we could be looking at a further dip to about $7,500. It is hard to tell, though, when a single action causes so much disruption in the market. Technical Analysis is rooted in the psychology of the masses. When a single person causes so much disruption, it makes it impossible to see where this will go. Eventually, the masses will resume control of the price action, and we can be more predictive in our screenings. Until then, we stay vigilant.