
There..bear hat firmly in place.
The police raiding Upbit in South Korea and the MtGox trustee's movement of coin along with a over bought market has caused a cascade event imho. There could be a moderate retrace as traders look to exit long positions during the next week or so followed by a retest of support at $7.8k.

Technical analysis indicates another month or so of downward accumulation.

Pantera Capital's May letter has some interesting points. #dyor
https://medium.com/@PanteraCapital/the-immutable-blockchain-rally-pantera-blockchain-letter-may-2018-873ba54fc4a