Bitcoin falls through $40,000 to lowest since September

  • Watch out for cascading losses

The September is low was $39,569 and we could see more stops on a break of that level.

I highlighted the potential head-and-shoulders and risk of an ugly breakdown earlier. Here's an updated chart:

Bitcoin daily Jan 10, 2022

Anyone heard from El Salvador President Nayid Bukele lately? The country started buying in September of last year, so every purchase is now underwater.

They're planning a bitcoin bond.

Elsewhere, ethereum is through $3000. I get the sense the tide is going out on NFTs as questions on OpeaSea and what's really decentralized and what you own go mainstream. Do you have a token of the image, or of a URL?

Eth chart

There's nearly no support until $2650.

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