BTCUSD as well as almost every other alt coin took a hard hit today. Most of the market action today is a result of the news of Binance being "hacked". Were they actually hacked? They have released several statements suggesting that it is a technical difficulty rather than a hack. HOWEVER, several users have reported that all of their ALTcoins were sold for BTC - other users reporting that all their assets were traded for VIA (Viacoin), forcing the price of VIAUSD to shoot up over 50%
In my opinion, we should see recovery from this, however, I am unsure how long it will take...
All indicators are showing that this may be the end of the dip. Also, we are still within our buy/sell channel (marked with two blue dotted lines)
I personally have a short position open from days ago, which is sitting at a loss. I wasn't expecting this news or downtrend, and quite the opposite, was expecting for BTC to uptrend towards 15k the next few weeks.
Let's see where we go from here!
In my opinion, we should see recovery from this, however, I am unsure how long it will take...
All indicators are showing that this may be the end of the dip. Also, we are still within our buy/sell channel (marked with two blue dotted lines)
I personally have a short position open from days ago, which is sitting at a loss. I wasn't expecting this news or downtrend, and quite the opposite, was expecting for BTC to uptrend towards 15k the next few weeks.
Let's see where we go from here!