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Cryptocrash

MapleChange , Bad Psychology and the collapse of BTCThis Morning at approximately 7 a.m. , the price of Bitcoin and other major cryptos began to fall precipitously, as the market had finally exhausted all of the automated buy in positions hovering around 6400.00 and slightly below. The rubber band like snap back behavior had lessened over the past few days, until it became too tenuous a hold, and there were not enough limit buy's in place and BitCoin is now trading at 6268.65 U.S.D. The collapse of Maple Change is in my opinion partly to blame, it is unnerving to say the least that Hackers can rob one so easily of their stored currency, touted recently as "less volatile," and a "safe haven" in the coming storm. The price of Bitcoin is attempting to recover , as this mornings action, which in my opinion was actually necessary for Bitcoin to move in any direction , has put the flagship cryptocurrency quickly and decidedly close to a supply point. Nobody seemed to want to do anything with the price so firmly affixed to the 6400.00 U.S.D. mark it has stubbornly remained at for so long; but now people are and will be compelled to DO SOMETHING. Caveat Emptor.
BITSTAMP:BTCUSD
by Cryptocautious
BTC/USD down trend channelPersonally, i don't see any signs of a reversal yet (unless we continue this bounce above 10k). Big accumulation zone is highlighted in the rectangle. The lower green trend line is a long term upward trend line that was established prior to the recent parabolic move. A correction to this level should signify a big buying, and should be enough to push us up and out of this down trend channel. Personally, I am opening positions when the price dips down to the lower support of the down trend channel and at the key support lines drawn. I think we have about 2 weeks before we see any full on bull confidence.
COINBASE:BTCUSDShort
by kevincantone4