Daily Bitcoin Forecast - Tuesday June 27th (#10)
What a day it was for Bitcoin yesterday as we saw the currency pullback even further as the bears took hold. The question we need to be asking is has the momentum finally died down or is this move going to continue even more?
Although we have seen a move back up to just below $2500 Bitcoin doesn't look like it's on a steady footing at the moment and is looking rather wobbly and confused.
Today I am going to sit out of the market and wait for direction, a full on move in any direction will pull the subtle side over the edge so we really need to be patient and await direction.
I have read a lot of news about how the market is 'plummeting' or 'crashing' and 'diving' however bear in mind where Bitcoin was only a few months ago. These moves simply look like minor corrections, you could only call a crash if the price actually did crash - below $1500 would be a 'crash'!
Safe trading today on Bitcoin, look for the demarkation zone before going full on on!
I think people may just finally be feeling the fallout and are needing money so may have to sell some.. but who knows :/
Could be the case, it's anyones best guess against someone else's!