Special Report: #Bitcoin (BTCUSD) Market Action Must Read


Bitcoin Has incredible market price action: Forms Huge Cup and Handle along with a classic technical handle "Breakout" to the upside. The low end of the cup price is $4,000ish BTCUSD, then the "Handle" breakout above $9,200ish BTCUSD and then huge rally up to resistance of $12,134ish BTCUSD, then the "Resistance" selloff, back to support of $10,530 (Old Resistance)! Ok, so where do we go from here? Time will tell. The new trading range for #Bitcoin is $12,134 for resistance and $10,530 for support = nice trading range of $1,604 points. 

Do we buy the #BTC dip or do we sit tight? If then. If BTC trades above $12,134, then additional "Breakout" trade? If BTC trades below old support\ resistance of $10,530 then look for BTC to retest other longer term support levels below $9,000 or lower? 

This type BTC market price action "sucks out" all of the margin leverage "weak sisters" in the crypto markets. Crypto margin trading can be an incredible double edged sword. When BTC got into a fast sell program and retested long term support of $10,500, many leveraged market players were "sold out" in a panic margin call situation. Margin trading in the crypto space plays off of the extreme emotions of Extreme Fear vs. Extreme Greed. Easy come easy go.

Should we feel sorry for those that were margin called at $10,500, who leveraged up in this rally to $12,134 BTCUSD? Imagine being "that Guy"(non gender specific), that 100X leveraged purchased BTC at $12,134, top ticking the BTC market and then was margin sold out at $10,500, talk about a margin debit, whew.   

BTC is never to low to sell and never to high to buy! Last nights BTC market price action, is the reason that the ACG "does not" support Margin or leverage in crypto. The tortoise vs. the hare. The tortoise always wins, the hare always is "sold out" at the worst possible price. I guess no #Lambo for "that Guy". Not investment advise.    

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