The thing is... Bitcoin has now fallen into a much larger and it looks like it is moving down to test its bottom. I am "guessing" that is somewhere around 6800. Indeed, the sentiment in Cryptoland has forced Bitcoin to fall from one rabbit hole down to another. Unfortunately, the Hypnic jerk sensation never ends for us traders. Now the question is - Will Bitcoin choose the Eat-Me Cake or Drink-Me Potion?
If Bitcoin eats the cake, it will grow large but its head will be stuck against the ceiling at the 7000 support-turned . On the other hand, if Bitcoin drinks the potion it will shrink down to as small as 5500. This is not a market to trade so let's just grab our popcorn and enjoy the show.
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