Most crypto currencies are having a rough day today and are retesting trendlines. BTC seems to be dropping through an upward trendline that has held since April of this year. ETH and LTC seem to be headed in the same direction and will be looking for support at lower levels. My advice is... Don't panic. As I mentioned this morning this was imminent and necessary to keep moving up. Below you will find some charts showing the current state of things.
Possible reasons:
- Crypto's are over bought and are correcting as people are taking profits off the table
- BTC upcoming fork worries
- USA trying to pass regulatory laws
- Hacks of late
On the other hand, as we speak:
- The oil price is slipping again today
- Tech market is also being dragged down
- Special prosecutor going to investigate possible 'obstruction of justice' in Trump case
- Putin offers Comey 'political asylum LOL, no REALLY
- DOW down 100 points
All in all a very eventful day with a lot of corrections going on in many markets. Let's stay sharp and watch closely how this plays out. No need to watch Netflix (down from 165 to 149 in 5 days) with all this action going on around us.
Will keep you all posted. Please follow me, upvote and re-steem! Thank you all!
@Ozz