Keep in mind that the Federal Reserve is likely to continue to see a lot of reasons to tighten monetary policy, and that of course has a huge influence on risk appetite. The 50-Day EMA is sitting near the $21,000 level and is dropping. Ultimately, I think this is a situation where we are more likely than not going to continue to fade rallies, taking advantage of some negativity. I think that Bitcoin is going to chop through the support level, and eventually go much lower. This is a market that will try to get down to the $15,000 level, and then eventually down to the $12,000 level where we started the big move higher ... (full story)