Day D is coming on Tuesday. February 6th could potentially be a huge day for cryptocurrency. The SEC (US Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission will meet on the 6th of February to solely discuss cryptocurrency. The pregnant women and people with heat decease should leave now.
MY OPINION
Unless SEC and CFTC say on Tuesday that bitcoin becomes official currency in usa, things are going to get ugly Technically speaking.
There is no support levels below $7500 and if 7500 does not hold, the free fall will start to $3900-2300 channel (that is the channel we were going whole 2016-2017, see the chart above) with the final dip at $1350 (lowest low).
If this scares you - lets face it, you should not be in crypto markets in the first place.
The rest of us should prepare for some turbulence. When the skies clear out, we will have an amazing year together with so many new opportunities opening at very low prices.
Fingers crossed.