Bitcoin’s latest drop and where we may head
Some comments over latest big drop.
7400 is still seen as a key resistance zone, which is also close to the 0.5 retraction over July’s rise.
6451 serves itself as a big support once again, but has to prove it, otherwise we may see prices near 5700 lows.
There is the possibility of getting in short term next to 6630 zone as a correction of the sharp move.
Latest major rise and fall had steep turns - this revealed to be intriguing since it was slowly moving up and it fell instantly.
BTCUSD shorts on Bitfinex went up parabolically over the weekend and may explain this movement.
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