Bitcoin Update - 12/22

$BTC

$BTC bounced off 50 day (blue) on Friday, and that’s the current area of interest on the downside. It would have to get kind of ugly below that level to start to speculate on a move down to the 200 day, which would (coincidentally) be the level where $BTC took off from in November. We’re about 6 days into the current pullback. The August move down was about 9 days long a saw a 20% drawdown on that pullback. A similar move from here would take $BTC to around $84K. Not saying it will happen, but something to consider. Hovering between that level and the 50 day would be ideal for dip buying. Overall, it’s been an orderly pullback after a massive move up, something that should be viewed constructively.