Bitcoin recap for 22.05.2018
The price has fully covered the gap as it has opened Yesterday at 8363.20, made almost insignificant move to a high of 8373.90 and then crumbled towards 8034 and closed at 8050.80. Fear of regulation - the one thing that can tumble the price in such a speed and manner seems to be the only thing can play such a negative effect on the Crypto markets as it affects Litecoin, Ethereum and any other major Crpyto currency. This leads to violent volatility and can destroy your positions if not guarded well.
My prediction as charted has changed a bit as now expect the price to bounce from 7870.71 play the chart for the positive outcome. Still the acceleration of the movement can bypass everything as a projection here and may just continue to fall towards 7349.75. Plans change for any normal prediction that you can make as events can have such a great impact on the price. And the price falls in hundreds of pips here.
The behavior of the price on the small charts (15M) shows that it makes small corrections as flags and then makes sharp breaks lower as Bears are now in control of the price. Shorts are favored here negative sentiment is still weighing down on the price of Bitcoin and the other Cryptocurrencies.