Bitcoin is down 14% and Dash as much as 19% after an incredible rally over past few days. Is this the end of the rally or just a correction?
Despite new records on indices and surging OIL prices it was Bitcoin and so called “alts” (like Dash, Ethereum etc.) that were drawing attention in the first days of 2021. Few days before Christmas Bitcoin was below $20000 and on Friday it surged to nearly $42000! However, we are looking at a very strong sell-off today. Despite the momentum of the move, do notice, we are still above the upper limit of a previous upwards channel so bulls will have their chances around $30000.
Dash is interesting as it broke out yesterday but is now pulling back to test the upper limit of a previous consolidation zone.
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