Well, I Definitely Didn't See This Coming! - BTC/USD 24th Feb 2018 20.50 UTC URGENT Update

I'm being whimsical of course - I predicted this earlier today in fact (see previous post). BTC's price action has broken below $9499 and for now seems to be holding there, although it's hard to tell if it will really take as a breakdown - this is a pretty recent (last 30 minutes) development. Remember that the keys to determining a breakdown below support is a swelling of selling volume below the support level. Pullbacks on the way down are common, but the key is that the previous lows are revisited time and time again and we should see sudden runs downwards as stop levels are triggered in rapid succession.

As far as I can tell there is no recent news that could have driven it below it's previous support level, it seems to be a purely technical breakdown. For those au fait with shorting, the next few days could be very profitable. For those who are long it might be brown trousers time. Hold on to your hats folks...

Cryptonym.

NB.
Values in USD are representative of prices traded on the Bitfinex exchange.
Times are UTC standard.
This does not constitute official investment or trading advice. Your losses are your own.

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