Crypto Trading Update: BTC - March 12th

Another smack down in prices happened again this morning. This wasn't anything we didn't assume was going to happen as I laid out in my previous post what could have happened to DGD and the other cryptos. I have noticed that while the majority of cryptos act the same, there are those outliers out there that act in different ways than the others however, the big impulse moves where we see massive dives or falls seem to all occur around the same time. Another observation I have seen is that we have started to see these big moves occur very early in the morning for me HST or around opening of work in NYC and the east coast around 8 to 9 am.

As for the charts, I see price continuing to fall again today to touch the lower support line of the current channel we are trading within. I do not know yet if it will continue the long-term downtrend we have been in or if we are seeing the beginning of a reversal pattern. I am going to wait and watch this today and keep an eye on price as it continues to fall and wait and see if a good trade set up occurs. As for now though it is a good idea to be sitting on the sideline and wait for all this to play out.