Bitcoin down another 14% this morning. Heres the charts, starting with log price.
Almost as an afterthought to my last post I suggested there might be a channel with support at the bottom of it. At the moment it looks like the price hit that line more or less spot on. I’m expecting this to be the end of this steep drop (for now at least).
On the linear chart we appear to be overshooting that support line, but not by much.
Bitcoin now down -17% in the time I started writing this post, so still falling! Some people are now thinking snap up the cheap bitcoins but I’m not so sure the time is ripe yet.