📉 BTC DUMP TO.. .📉
Bitcoin is doing whatever it wants as usual. Today has been extremely bearish and BTC started correcting this morning.
Unfortunately that spells trouble for most of the market as it was mostly red on Coinmarketcap all day. BTC making violent moves up or down, as we’ve stressed before, beats up ALTs pretty bad. There’s been a lot of money pumping into the whole market the last few weeks so corrections are healthy and necessary👌
So where does it stop?
Impossible to say obviously, but we’ve outlined a few supports on the chart below. Historically we’ve seen BTC correct about 30-40% after huge runs. Right now we’re looking at a 25% dip (it looks much worse because 25% is $5k now days) so a little more downside isn’t unlikely📉
For most, holding is the safe play - and the least stressful.
For the traders out there, there could be a nice swing opportunity for you. Just be especially careful with all investments when BTC is this volatile📊
