CRYPTOS See Worst Day In Over Six Months -- Market Cap Down To Year Low

What a horrible day that was. We closed out with extremely bad candles on the daily. Several days ago, we saw another big pullback. The difference (besides percentages) is that the pullback several days ago saw some bulls buying the dip. We can see a lower wick on the daily candle and there was a slight amount of rejection. Now, we barely saw any from the low. The daily started off tanking, so we almost saw a bearish maribuzu candle.

Not surprisingly, we saw search interest in "Bitcoin" go down after hitting the peak. We've known previously that search interest on the internet directly reflects price action. This is always used to gauge trends. Since we haven't seen any increase in search interest, it's so likely we are seeing this down trend continue as we test lower supports and head down to $3,000.

The market cap is the lowest we've seen all year. Additionally, we haven't seen prices for this market cap be at this level in over a year, since before this time last year to around the middle of October.

I believe right now we will see a small oversold bounce. We saw a low and supports hold. We're nearing EMA resistance though, so I have no idea of guessing anything. I'm still going to stay cash in this market scenario for now. We will still see a greater pullback longer term. Probably we will see several days of consolidation like the last pullback, then some more downside action.