Markets got UGLY, but what does it all mean?

This has been a bit rattling, we've lost all of the last 3 weeks gains within a few days here. One positive thing I can say is that while bitcoin was bullish last year, it always took the stairs up and the elevator down, and that's exactly what we're seeing. It's ugly and hard to watch, but I think we should find a base somewhere at or above 6.8k. Path of lease resistance has been overwhelmingly down lately on the books, but has flipped recently to a neutral position.

Alts are getting just obliterated, STEEM and SBD are down big but maintaining their ratios. I've never seen STEEM hold above the price of SBD for long, so this is quite interesting to watch. I've noticed EOS down at around $12, which represents about a 40% fall for it from it's peak this rally.

I think we could see a bounce here off around 8.2k and then possibly go lower, or not. We will see soon, I'm still a bit nervous under $10k. Right now it seems the same amount of money is getting sloshed around crypto and no new big fish are coming into the pond as of yet.

I'm telling you though, they are coming.