1. There is a huge influx of BTC coins to exchanges which adds to selling pressure. Around 45k BTC were added to the exchanges yesterday. 2. Futures' positions are high, so it would be sensible to liquidate them 3. UK has raised its interest rate today 4. In the states they are waiting for figures for the unemployment 5. China/ Taiwan/ USA crisis can be a catalyst in the future so investors may want to reduce their risks. 6. S&P because of points 3,4,5 and 6 may drop significantly which can drive BTC also down
Some technical analysis is on the chart, with the support zones shown there
@SwallowPremium, You are welcome, let's see how it will unfold within the next 3-4 days. Whenever Bitcoins are added to exchanges a dump follows after some days... I may be wrong but the risk is too small if it goes higher than 23.8k and stays there then this idea could be invalidated
Crypto-cat108
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not to forget CPI data comes on 19th of August. Thanks. I am also waiting for the drop.