Watching the BTC bubble collapse in slo-mo

10 בנוב׳ 2017

I know the presentation of this chart is ugly and color mottled, but I think it characterizes the messiness of the current situation. I've read several analyses and looked at other people's projected support levels, and still cannot figure how BTC is anywhere above $4415 today. I don't think the sub-$3600 level would be an outlandish call for sometime tomorrow. I think things are being held together by day-traders, algorithms, and hopeful hodlers. I'll be watching, but I wouldn't touch BTC with a 48-hour pole at this point.