Hope everyone is having a good start to the week.
Last week I speculated, because of the rejection at the 200 SMA, Bitcoin would fall to $7700 or $7200 (see article below). We are right on track to do just that. I'm leaning more towards $7.2k and not ruling out $6k. If we go to 6k, the alts could be ripe for the pickings.
A combination of news and lack of buying pressure is to blame in my opinion. Like I mentioned last week, when we reach the bottom, we'll have a huge bounce when the whales are ready. For now, I am very bearish for the first half April, but bullish in the mid to long term.
Again, I'm not an expert. Please conduct your own research.
Please feel free to leave a comment and let me know what you think!
***Update, we had a nice hourly candle! We'll see where this goes!