Bitcoin has dropped from our selling area nicely and sees a lot of bearish momentum.
Sell below 8758. Stop loss at 9211. Take profit at 7920. Reason for the trading strategy (fundamentally): The big news event surrounding Bitcoin is Edward Snowden making an announcement that the big structural flaw that is has, the long-lasting flaw, is its public ledger. The reason for this is because he explains that “you cannot have a lifelong history of everyone’s purchases, all of the interactions be available to everyone and have that work out well at scale”. Also, he also expressed his concern that having a public ledger that documents every transaction history could draw interest from governments that wish to outlaw the technology, as seen in how NSA may be using its powerful surveillance technology to track the blockchain ledger and individual bitcoin users. This has caused Bitcoin to drop sharply recently. Reason for the trading strategy (technically): Price has dropped nicely from our selling area and is working its way to our profit target. We see major resistance below 8758 (Fibonacci retracement, horizontal overlap resistance, bearish Ichimoku cloud) which we look to sell below for a push down to major support at 7920 (Fibonacci retracement, Fibonacci extension). RSI (89) sees a descending resistance line add to our bearish bias on this setup.
Not likely. Here is proof we will go up to at least 9500k for the moment...
SRNOSTRADAMUS
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UnknownUnicorn1360162
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Snowden is not right about everything... being a gung ho "patriot" about invading Iraq for nothing, joining the alphabet stasi in the first place, then deciding he was working for Nazis and foolishly giving his NSA doc stash to treacherous "journalists" who privatised them for personal profit, and to hide the identities of stalkers, torturers and murderers. But he's doing OK on his Hollywood royalties and free protection, unlike the people his goon "friends" at the NSA continue attacking -- simply because they want to kill dissent(ers).
Anyway, of course the bitcoin blockchain is open to all, which is a trade off. Note: the CIA & NSA track all fiat transactions on the internet; it goes with the "collect it all" turf.
His argument is BS. He'll earn my respect when he shows some interest in exposing criminals who attack human beings, not just the technology used to facilitate 24x7 surveillance, stalking, torture, and murder.
Not sorry I offended people only interested in money.
UnknownUnicorn1360162
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But Snowden's comments were spun, and I popped off before looking at them more closely. He said he uses ZCash and Monero, for good reason.
Nobody should think Bitcoin, only the first generation blockchain, will not be improved upon by new blockchain implementations supporting both public and shielded addresses.
tradingwithanthony
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I was just looking at BTCUSD thinking that its time to short.. then your post dropped in. Jumped on this one in time. And thanks to you for generously sharing your ideas for others to benefit.
mightytrader
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Snowden is THE MAN! I love shorting Bitcoin. =D $$$
aikitran
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you know why there's a 400 coin bid to stop the fall?