As a trader, you need to ask yourself, what position do I want to be in before, during or after this event? As a long-term holder, you need to ask yourself, do I want to liquidate my holdings and sit this whole thing out until the situation resolves? I feel most traders will play this short and many holders will liquidate. We are already seeing continued selling pressure since the newly established all-time high. The nearest support is around $750–800. I’d expect that zone to be reached rather quickly. I do not expect to test $450, but support is there should price breach $650.