Originally published by AxiTrader
Billionaire investor Warren Buffett has said he'd buy a 5 year put on all the cryptocurrencies. And the South Korean authorities are cracking down on crytpos and (Bitcoin).
That's put (BTC/USD) under pressure this week and this morning it is down for the fourth day in a row sitting around $13,350.
But, while Bitcoin has been under pressure, and while the price looks set to close below my slow moving average for the first time since September 2017 traders are currently eyeing, and respecting, the trendline which joins the November and December sell-offs.
That's an important level to watch with the trendline sitting around the $12,800 region. A break below that would open the way to the December low around $10,500.
But it has to break first.
Here's the chart:
Have a great day's trading.
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