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Bitcoin Is Near The Brink Of Breaking Down to $30k – Will It Stop There Or Will A Herd Mentality Sell Off Drag It To $10k? – HoweStreet
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Could Bitcoin Price CRASH Target A Bottom Below $7500? :: The Market Oracle ::
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The recent price volatility related to the surprise Jobs number, nearly ten days ago, and the potential for inflationary price trends extended beyond the Fed expectations has created a unique type of sideways price rotation on the INDU chart. This recent price volatility suggests the markets are struggling to identify future trend bias as well as attempting to shake out certain traders and investors (running stops).
Additionally, the downside price trend we’ve recently seen in Lumber, breaking away from the continued rally mode, and Bitcoin, breaking downward nearly -54% from recent highs, suggests a broad market “washout” is taking place. How far will this trend continue? Will the US stock market break downward like Bitcoin has recently done? Let’s take a look at the charts and try to answer some of these questions.
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