Simple. Quick pump at the very high pace brought us to the overbought territory. What follows is an elevator down, where we are in right now. Expect it to stop, if the test of $500 support is successful.
exactly that. looking at how deep the price is falling it makes me feel good that i have secured profits at $730-$750 levels. the price at bitfinex just touched $594.5 as the lowest price. it might go down a little bit further, but i hope this is the point where the price starts heading up again. you know what they say about the price. what goes up quick, comes also down quick.