Today lets talk briefly about BTC and the possible correction it may have in store for us. Since the correction this mid January we have seen BTC struggle to gain any real momentum. It briefly got close to the 13K mark on the 20th but has been bearish since. Based on the charts and things I have read I think that we may be in for another correction. We saw BTC go under 10k mark a few days ago and I think that is really telling. The psychology I think is that as soon as it had a value under a 5 digit number it may have briefly devalued itself in peoples mind. It seems to me we are on a slow decline down. I can see based on charts more than likely we have a strong support at the 8-8500 mark. I may be wrong but personally I think I will watch over the next few days before I make any moves. If it does get to the 8500 range I think we will go on a bull rush like we have not seen in a few months. As always it only speculation. What are your thoughts?
Note: This is not financial advice. The information is based on what I have gathered. Please use your own discretion.
