by John Galt
December 22, 2017 09:20 ET
Millennial know it all’s, meet gravity:
If this isn’t the start of something bigger to the down side the BOHICA when the crash really does come. Technically speaking however, there is little reason to expect major support until this breaks down below the $6,000 to $7,000 range with substantial volume.
All of the cryptos are experiencing this year end profit taking so if anyone thinks this is over, well there is a week to go in the year roughly and with the Wall Street crowd going on vacation, do not expect a bailout. This is why an old architect friend of mine once said, never design the emergency exits with 32 inch wide doors at a weight loss clinic as that many fatties rushing for the exit will only block it for everyone and create a disaster.
It would appear that Bitcoin’s exits have a yuge problem this morning.