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How Many Days Before Bitcoin Hits Margin Call Price of $21,000?

Michael Saylor, CEO of MicroStrategy, borrowed money to buy Bitcoin. He has stated that he gets a margin call if Bitcoin tumbles to $21,000.
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Bitcoin at Last Technical Support Above $19,000

Margin Call

Saylor Tries to Defuse Fears

Pledge More Assets 

Amazing Arrogance

Bitcoin Weekly Chart 

Bitcoin chart courtesy of StockCharts.Com

Bitcoin chart courtesy of StockCharts.Com

Technically speaking, Bitcoin is on the tip of a major precipice. The next support level is somewhere in the $17,500 to $19,000 level.

That does not guarantee or imply Bitcoin will fall that low, but, this is a bear market and support levels tend to break.

Moreover, the fact that everyone knows where the pain level is, tends a bit to be self-fulfilling. 

Thinking This Through

Saylor says he will simply pledge more assets. Well that will do nothing but set an even lower pain level. 

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MSTR chart courtesy of StockCharts.Com\, annotations by Mish

MSTR chart courtesy of StockCharts.Com\, annotations by Mish

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How Many Days Before a Margin Call?

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This post originated at MishTalk.Com.

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