BTS/ USD update 5th Feb 2018

trizle (52)in #bts • 6 years ago

BTS/USD market seem to be on a continous bearish pattern along with BTC trading in $7000 range after the news release of China banning foreign platform released 4 hours ago as at time of writing and of quote "China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall, the South China Morning Post reported Monday, reported Feb. 5, quoting a publication affiliated with the People’s Bank of China (PBoC).

Regulators in China reportedly voiced dissatisfaction with current measures restricting trading on domestic exchange sites, coming to a decision to block foreign sites as well to counter “financial risks”" https://cointelegraph.com/news/ban-complete-china-blocks-foreign-crypto-exchanges-to-counter-financial-risks

All markets seem to follow the bitcoin bearish pattern with double digit losses and more FUD causes more exit and panic selling. we hope to see a reversal with an inverse Head and shoulders pattern as soon as better regulation are set in place.

At this point, margin trading carry a higher risk of being margin called. Trade with caution as the market is very bearish and don't forget to use stop loss. Currently Bitshares is trading in the 20cent range