Spreading rumors about Binance's security issues killed the momentum for BTC to reverse the trend. After last two patterns BTC failed to break out at the right moment(the inverse head and shoulder and triangular contraction).
If this rumor turns out to be true and plus if it catches everyone's attention, it is very highly likely that BTC will experience another big drop. Further, it might lead to longer (in time) recession. Last xabcd pattern broke out right after the pattern was completed.
**Again, this is "only if" the Binance security issue gets as big as 2014's Mtgox.
Watch out for more updates on what Binance's got to say.
I'll update the opposing scenario as an update on this post.
If this rumor turns out to be true and plus if it catches everyone's attention, it is very highly likely that BTC will experience another big drop. Further, it might lead to longer (in time) recession. Last xabcd pattern broke out right after the pattern was completed.
**Again, this is "only if" the Binance security issue gets as big as 2014's Mtgox.
Watch out for more updates on what Binance's got to say.
I'll update the opposing scenario as an update on this post.
Comment:
twitter.com/cz_binan...s/971520303812698112
Trade closed: stop reached:
Binance Security . Check.