A roller-coaster ride and some learning

Today it’s been another rocky day for Crypto in general. BTC in particular though has continued the recent slump.

If you look at the technical analysis side of things, you can see that BTC has hit another support area at around the 0.5 Fibonacci retracement level, however, that’s a pretty small space, and there is a real chance we could come down another jump all the way to the $7400-7800 mark.

 

At this point we’re really bouncing around and I’ve got some in BTC and some in cash so frankly am hoping for another dip…

…some time later…

Well that dip hasn’t happened. In fact so far it’s gone back and recovered slightly. Now it’s not all that clear… I.e. I’ve no idea what will happen next. Logically I suspect that unless a rally materialises and we push back up above resistant levels to the 11-12k$ mark chances are we could still come all the way down to $7400. However i’m not sure I have the guts to sell now and wait so I will have to be satisfied with the small profit I made for now.