Bitcoin (BTC) vs. Facebook (FB)

July 2, 2019 / by Bill Noble

Looking at the tactical outlook in both Bitcoin (BTC) and Facebook (FB), we notice a study in contrasts.

Bitcoin (BTC) on BitMEX is bouncing off key diagonal support near 10,000 (Figure 1). We also have hand kept Gann work (not shown) showing that the low yesterday hit a key Gann support level. So, the bounce of $10,000 seems to be super bullish. 

 class= Figure 1

In contrast, the Facebook (FB) chart shows the Libramaster’s stock has hit resistance from the bottom of a gap from last year (Figure 2). This move near resistance may be used by short sellers to make bearish bets on Facebook (FB).

 class= Figure 2

Bottom Line: Libra isn’t real crypto, and we’re not fooled. Mr. Market looks ready for an explosive holiday rally in Bitcoin (BTC). Don’t go to the beach without sunblock and Bitcoin (BTC).

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