I think Bitcoin side-liners will have an opportunity to pick the coin up at a steep discount. The overall chart looks weak in my opinion. This is not to say I am bearish on Bitcoin long term; it is to say; I do believe we can witness more downside before the coin goes on to do great things.
What am I expecting?
Sitting at mid $14k (around time of publication); we may have one further back test of $15k before falling towards $12k. This is where things get rather interesting for the coin. $12k-$12.5K represents fairly solid support going back to early December/2017. If we can not hold that line; $9-10K is a very real possibility.
DISCLAIMER: Nothing on this site shall be constituted as investment advice. Cryptocurrency is a highly, note, HIGHLY speculative market. The returns are great but so are the risks! As with investing; I never invest with money I can not afford to lose.
Tina "ShortMeTina" Ley (pronounced Lee) holds a Bachelor of Arts in Forensic Psychology and a Master's of Science in Mental Health Counseling and has been a stock market participant for over 10 years. Currently a Full-Time Trader and Blogger of all things financial.