The panic continued over the weekend as a rumor spread that Huobi was closing down, this appears to be false. So is this the bottom? A possibility for sure, but if you’re desperate to trade just remind yourself that we witnessed -70% within 5 days. That being said, the Bollinger Bands creator did tweet about a W-shaped bottom, and it appears to be playing out…

There is no reason to rush into huge longs, even if the worst of the selling is behind us, Bitcoin will probably re-test the $32k region. We should also be ready for more FUD given that China’s digital Yuan appears to be turning into a disaster. Don’t get yourself caught in unmanageable positions, wait for confirmations, and take things slowly!

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