BTC STORY
BTCUSD - 22/05/2021 - BTC has fallen loads on the back of China and US regulatory pressure.
“President Biden proposes to strengthen tax compliance for cryptocurrencies by requiring the investors to report transactions worth $10,000 or more to the Internal Revenue Service (IRS)”
Also further talks of China shutting down Bitcoin miners have weighed in with Elon Musk’s tweets creating panicked sell offs.
My buys turned onto sells as soon as the 48k mark was hit and any gains looked unlikely.
It’s hard to make an argument for the buys this week.
Will be watching 30k closely as we hit it this week and it appears to be the level that Tesla announced it had bought $15B of BTC on Feb 8th (Elon may want to keep it above this level).
Personally I’m looking for a bottom to buy back in, 30k looks like a great area and a sell off like this needs a correction, but when?
Do you see BTC falling further or think it’s a good time to buy up?
#financiallyfreetrader
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