Bitcoin corrects

After a small rally that was starting to form Bitcoin reached 7400$ and also reached the overall downtrend line that was started back in January and got dumped right back to 6900$ until now. So I guess if you wanted to short especially with Bitmex which lets your short with leverage , 7400$ was a really good educated bet.

But the question here is where bitcoin is going from here? Its always amazes me when bitcoin reach a trend line which suppose to make it go down like in this case a news post is also released which correlates with the dump which in this time was a 100,000 btc wallet which was dormant for the past 4 years has started to make a move of a large part of it sum into exchanges, probably to take profit.

Cryptodad