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Bitcoin expecting a further drop, wait for a pullback

BITFINEX:BTCUSD   Bitcoin / Đô la
Sell below 7993. Stop loss at 8885. Take profit at 5758.
Reason for the trading strategy (fundamentally):
Another big news in the cryptoworld is Lloyds Banking Group, which includes Lloyds Bank, Halifax, MBNA and Bank of Scotland, has barred customers from using credit cards to buy bitcoin and other cryptocurrencies. Its decision is over concerns that users may buy cryptocurrencies with credit amid market euphoria and fail to pay the debit balance should the market drop. This is especially since the cryptocurrency market has took a hammering recently, especially bitcoin which as dropped by more than 50% since its $20,000 highs in mid-December 2017.
Reason for the trading strategy (technically):
Bitcoin has continued to drop further and has now broke below our descending support-turned-resistance line which signals a further downside acceleration. We look to sell below 7993 resistance ( Fibonacci retracement , horizontal pullback resistance, breakout level) for a further push down to at least 5758 support ( Fibonacci extension , horizontal swing low support).
RSI (34) remains under strong bearish pressure with our long term descending resistance line.
Funny when the criminal syndicates get upset because something is dominating which they didnt come up with ( usually a scam of some nature )

Pathetic world where the fraudsters get upset when the newest thing is not in their control ...

Money controls .. as the Rotschild scum said .... problem is they not printing it ; ) Thats a big cockup for them
+1 Phản hồi

the rehypothecation F#@$ who put us " re mortgage your house .. your sitting on a Gold mine "adverts on daily basis ... gave us 0-5% mortgages which you could pt on the same banks credit card ...... then hiked the interest on these "flexible loans" and screwed all house owners out of their house & life savings ......

Are worried about people not being able to pay back debts . I bet you couldn loose as much as the 300+ % monthly interest people got hit with by the above WANKSTERS ; )

Where do you see the low , you don't consider 5500 area to be good longterm long .. or expect 2500 +- in shrt period ?
Phản hồi
Why is this bad news? You can't buy stocks on credit.
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