Bitcoin on Verge of Price Collapse - Mike Swanson (06/28/2017)


Bitcoin has been in the news everywhere for the past sixty days thanks to a parabolic price launch that took place for it in May.

However, this month Bitcoin has all the makings of putting in a dangerous top on the technical analysis chart.

Take a look.

The key support level on Bitcoin is $2,400.

That is the low made after its peak that then just got tested recently for a weak bounce.

If Bitcoin closes below $2,400 then the topping formation will be complete.

Stock market investors do not think about Bitcoin, but the "FANG" stock complex actually has traded with Bitcoin since May.

I did a post about the connection between NVDA and Bitcoin price action before.

And the Nasdaq itself is sitting on a similar support level right now at its 50-day moving average.

It forces us to wonder now when will the Nasdaq rally end?

Maybe it already peaked.

Grab This Free Report: My Top Options Trading Setup

This free special WSW report is devoted to my top options trading setup. I do this one simple trade at least once a month.

Grab it and get along with it our future stock market action updates. Do not think about buying any other stocks or options before you read this report. To get this report click here