Crypto Breakdown Looms Once Again, Bearish for Stocks

Bitcoin is approaching major support at $7000. Other major cryptocurrencies are already at or through important support levels. Monero has broken through major support to the downside. Litecoin and Omisego broke back below support ) former, now once again resistance. Decred, which has been as close to a Swiss timepiece when it comes to hitting highs and lows in its channels, is threatening to break below. Ehthereum is above support, in a similar position as Bitcoin. A break lower in Bitcoin opens up a drop to a 4-handle or roughly ~30 percent. As goes crypto, so goes the stock market.