Dude, Where's My Support Level?
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
Ah good ol Saylor’s BTC position will apparently face a margin call at $21,000. Just wanted to take a look at potential downside that is within the realm of historical possibility. The most severe pullbacks have sat in the 70-85% range. If we take a look and simply just map it out, $11,000 would certainly shake the hell out of the tree which is 84% down from the ATH.
This is all just one week/month at a time and IF we keep selling, Ill be looking at that yellow trend line to see how price reacts, which currently sits at about 77% down from the highs.
Quite something that the margin call level is basically just above technical support…
Stay sharp out there.
