BTCUSD – Short-term drop is expected!

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

caldooninvestment

-One thing the market learned this year was that BTC sometimes acts highly correlated to the market, especially when it drops.

-Today SPY confirmed the Double – Top formation which brought SPY back to $435 from the previous day’s $440 levels.

-We expect BTC to further follow SPY down to $40,000.

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