After yestedays "pump" as my friends called it, also know as a green day for bitcoin, we are seeing a red day. This is anticipated I think by many traders as clues could be found all over the charts. 

As you can see from the chart below, the descending resistance trend line (descending white line) did it's job and held. Also the price action reached the 21-day EMA (yellow line) and was immediately rejected. 

So where do we stand now ? Well, the horizontal white line is the support around 10,800$ and the super solid support is at 10,300$, which is essential for many as it is a bit over the psychological 10,000$ mark. Fresh money waits on the sidelines, but this sideways action is concerning investors. 

![Capture.PNG](https://steemitimages.com/DQmNbdgqTVnwAeA528uE8SJatK4Y42NLkuK6t1TUVCJwz4g/Capture.PNG)
[Source](https://www.tradingview.com/chart/ENQrhqmo/)

I would definitely  advice those who are reading this to be extremely careful in this dull market. Correction is not over and the markets are very choppy at the moment. Rule number 1 in trading is - DEFENSE ! Defend your capital, you will need it when the opportunities come! 
<center>***Cash is also a position***</center>