As western media continues to misinterpret news out of China regarding Initial Coin Offerings and crypto-exchange regulation, the price of BTC continues to drop. This is by no means a negative, as it offers an excellent opportunity for market entry to those that missed the boat on the previous bull rally.
Currently BTCUSD has retraced to just below 50% of previous bull rally and we will probably see a retracement to 61.8% to $3000 levels. This will be the perfect entry point before the price action bounces back off a historically and psychologically strong support level of $3000.
Currently BTCUSD has retraced to just below 50% of previous bull rally and we will probably see a retracement to 61.8% to $3000 levels. This will be the perfect entry point before the price action bounces back off a historically and psychologically strong support level of $3000.