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.

Bitcoin

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
INO.com and MarketClub.com

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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