To the disappointment of many the price of Bitcoin dropped last night from around 920 USD to 775 USD (on BFX).
So what does this mean?
Let's be honest. No one really knows, but we are all making our guesses. My gamble (shown below) is that bitcoin will continue its decent in a wedge formation to around 700 USD, then it will be decision time.
Let's take a closer look
As you can see I am anticipating several weeks of up and down with an overall down trend. If it reaches the supporting trend line I will be watching the price closely. A solid break and I will consider exiting; however, I am hoping it continues the uptrend because I just can't deal with another Bitcoin bear market.
Disclaimer: Trading is gambling and this post is not financial advice. If you are looking for financial advice though I say buy yourself some STEEM :)