BTC has officially hit the 200 day EMA--this is a historical that has not been breached in 3 years. While I would have expected to see a major bounce off this , we have at least seen the price catch here. If we breakdown at this point, we may see a pierce of the 200 . This would likely satiate the masses sitting on the sidelines who have been endlessly calling for 8k bitcoins .
If the 200 does not hold, we are in uncharted territory.
I am personally taking the stack-preservation approach and will wait and see. I would rather leave some profit on the table and catch this on the way back up with a market order than get in now with the potential for a further breakdown to the 200 . There has been too much FUD in the past weeks and days for me to have full confidence in our TAs.
As always, stay safe.