Worries over South Korea Sent Bitcoin below $12,000

This is bad.  Bitcoin is now trading below $12,000. 

Last week, Buffett came out and said the cryptocurrencies would somehow end badly in the end.  South Korea continued its investigation on the Bitcoin trading activities, and the trading exchanges.  South Korean Justice Department is planning the legislation that would shut down the exchanges in the country completely.

If we just look at the chart only, a major short term support has been broken. 

The question now is where the next level of support would be.  Your guess is as good as mine at this point.

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