Bitcoin ran up to $93,500 in the US morning before some profit taking hit. When a second run at that level couldn’t crack it, a decent round of selling hit, taking it down to $91,000.
It all looks like a rather standard move in a major breakout. The 61.8% retracement of the move on this chart is almost right at $90,000, which will now act as support.
This article was written by Adam Button at www.forexlive.com. Source