This afternoon saw Bitcoin continue it precipitous decline. We should see some major support in the mid-8000 range for a bounce higher. However, this should prove to be a Bull trap when prices start to push towards new lows. There are still a lot of Bulls trapped on the long side as buyers who bought this last leg of the rally up will continue to rationalize the HODL strategy until the pain threshold of mounting losses throws them over the Bitcoin HODL boat. Its a great time to be in USDT (Tether) and to scalp to the short side when a good setup for entry presents itself.
News:
Bitcoin Battered To 3-Week Low:
https://www.zerohedge.com/news/2018-03-08/bitcoin-battered-3-week-lows
