Bitcoin has continued to take a beating on Friday after a whopping down-day Thursday and more of the same earlier in the week. We're coming up on a major trend-line at Bitfinex, but the chart really isn't looking too crash hot (excuse the pun):
Initial support is the trend-line/wedge bottom around 6600, with a breach of there targeting the 2018 low at 6000 square. One can only hope that a double bottom forms there or we are in for a whole lot more pain, with $5000 being the next point of interest for me.
On the bright side, the trend-line does still hold for now and we are approaching not only end-of-month, but end of quarter - this is when the big boys come out to play. Major reversals often occur on the last or first days of months and quarters as big institutional investors make portfolio adjustments for the coming period.
Fingers crossed for some of that - my income from posting on Steem is down literally 96% from the Christmas peak :|