Bitcoin Suffers Its Biggest Loss Of The Year

Hello traders everywhere. Shortly after Bitcoin broke thru the $8,000 level it suffered it's biggest loss of the year trading as low as $6,178 on the day. Bitcoin has recovered more than 50% since the low hit earlier today. However, it is still down around -5% on the day at $7,071. Much like the recent massive move higher there doesn't seem to be a reason for the sell-off other than profit taking, so I'll just chalk it up to that. Look for the 30-day MA to provide support sitting right above the $6,000 level at $6,009.52.


As for stocks, the market is ending the volatile week with a thud siting relatively unchanged as we enter afternoon trading. The DOW traded 10 points higher, erasing a 200-point drop, while the S&P 500 and NASDAQ traded below the flatline but also were off earlier lows.

Key Levels To Watch Next Week:

Every Success,
Jeremy Lutz and

One thought on “Bitcoin Suffers Its Biggest Loss Of The Year

  1. Since the stock market is something which takes time to learn and build a good profile in it you need a vast knowledge of the market before investing if not then you can face a huge loss as it's completely unpredictable.

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