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Bitcoin Rout Stalls as Familiar Retracement Pattern Reappears
The bearish Bitcoin target around 90k that I outlined in early October was reached on Wednesday. It wasn’t the easiest target to set, given it required a break below the key 100k level and came with plenty of verbal pushback from bulls along the way. But it felt as though the tide had turned, with Wall Street also under pressure and cryptocurrencies generally pricing in more bad news than good. The 90k level wasn’t picked out of thin air. It sits near the March volume point of control (VPOC), and it marks a -32% correction from the high — matching the depth of the previous two retracements. I can’t claim to ... (full story)
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