Bitcoin Pulling Back
On second October, this Russia-based telecommunications operator bounced off from the resistance line 661.4, and at the same time it bounced off from the resistance trend line. From a wider point of view, Megafon has been making lower highs, I went short following the third bounce from this Resistance trend line and is still holding onto this trade. My expectation is that the price should continue to plummet towards 544.1 or even lower. According to the daily chart above, only short position can be recommended towards the daily support line 534.00. If this support is broken, then the price will drop even further towards 500.00.