Ouch...what is next for Bitcoin and Cryptos after a spike lower
Cryptocurrencies took a beating overnight with the selloff attributed to the launch of the Bakkt Platform (offering physically settled Bitcoin futures unlike CME which pay into cash). The 9000 support zone had a lot to do with the spike lower as buyers stop levels were targeted. Watch now for either bulls to come under further pain as the stop run clears the way for a move down to 7444 or for price to bounce and hold the 9130 level and rally hard. We will see in coming days as the price action builds and hints at a coming move.
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