Not to spread FUD or make people close their longs, but we are at a very very critical point, we broke below the 200 EMA on the daily and is testing back to it right now. The Daily MACD is also at an important point, a sustained down move will open up the possibilities of $5000. Only a break above the 200 EMA can change this still bearish trend on the Daily.
In the long term yes we are still bullish, but in the short term a drop to $5000 and below will devastate most people especially if you are leveraged on longs.
This is not spreading FUD, as a Technical Analyst this is what I am seeing, I am neutral, I read the charts only.
Comment
⋅
Watch out!
Comment
⋅
8600 and 8350 are zones to watch for a breakdown or reversal