Bitcoin markets lost 10% during the trading session on Friday, reaching down towards the $6000 level, an area that I have been talking about for some time. I think at this point, it’s become obvious that the market will eventually break down below that level, the question now is whether or not it’s going to happen right away or is it going to take some type of pullback to start shorting. Ultimately, I think that the market breaking below the $6000 level opens the door to the $5000 level next. Rallies at this point continue to be selling opportunities, as the Bitcoin markets are looking very soft. Ironically, the US dollar loss quite a bit of value in the Forex world at the same time, which may have been one of the main reasons we did break down below the $6000 level. I believe we have much further to go.
for more analysis: http://www.dailyforex.com
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