Bitcoin is on fire! Not in a good way..
Yeah Bitcoin and crypto in general has been hit hard over the past week with another hit today, but is it the time to buy?
Let's go to the chart!
Cryptocurrency is unique because of the consistent volatility and i believe will have a major role in the future of money transfer especially e-commerce, but from a technical analysis is it the time to buy, sell, or hold?
Well when you look at the chart you see nothing but a bear flag, so IMO NO stay away or average down if you can, IMO this will continue to drop until it develops a strong bottom for support.
If bitcoin decides to drop into the low 5 or even 4 range you can bet i will be a buy but fro now with the panic selling that's taking place i will keep my money elsewhere.
Let me know what you guys think, but with the chart i designed Bitcoin is not looking good for now, follow me on stocktwits for more updates!
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