Oh Boy.
We're back in BTC lows again.
That's right, we're back in the 6700 range. For many people, 7200 was downside targets and it seems people managed to buy in the 7200 consolidations while whales waited for the EMAs to catch up before slamming down. This seems to be the floor, but there is room for BTC to go down to around $4-5K as it would then go into peak miner performance with the most productive conditions allowing for miners to mint BTC at around those levels. Most miner costs, however, maintain a stronger BTC value.
Meanwhile
Many people had the same expectations on EOS 0.618 significant FIB zones, but at the same time, whales managed to dump past the zone.
Comparing the two, however, shows that EOS is still above it's yearly lows. This tells us two significant things. 1. Support levels are still important for EOS. 2. It still has reasonable room to drop. 3. We are risking a bearish trend. On the daily, it would be significant to make a small 5-10% bounce to enter cautionary zones. Overall, however, EOS seems to have some strong fundamentals supporting it namely that it is still undergoing launching and the BP election process underway encouraging investors to HODL and namely use their tokens in the DPOS system to vote for their favorite BPs.
Anyways, I'm no expert. Standard disclaimer, info and entertainment purposes and not financial advice. Ask 