Bye Bye Bitcoin: Major Support Broken
Gareth Soloway | Jan 12, 2018 12:10AM ET
Weeks ago I alerted crypto investors that Bitcoin was safe unless it broke a trend line of support as seen in the chart below. I predicted it would break that support. On Thursday, it broke. A downward spiral will now occur, taking Bitcoin to $8,000. Once there, expect a huge bounce back above $10,000, maybe even $12,000.
Other crypto-currencies will see major declines as well as the small investor freaks and runs for cover. Anyone who did not think this was going to happen is literally an idiot. The CME and CBOE launched futures just a month ago so the big institutions could short the hell out of these things. Once the big boys get on one side, it is going that way. That side was the short side. BOOM!
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