Another falling wedge in the making? Still early days; SEC launches its fake ICO for investor education
- BTC in the process of making a falling wedge in the short term.
- SEC launches fake ICO “HowleyCoin” in a warning to investors.
Bitcoin seems to have fallen in love with falling wedge technical pattern as it made this pattern at least twice in the past and now is in the process of forming one again, whether it completes the pattern and breaks out successfully, we’ll only know in time, but it’s an interesting thing to observe from aside.
BTC/USD down nearly 2 percent at $8,320 after recovering from day’s low of $8,104 threatening to breach $8,000 on the downside. On the 240-minute chart, BTC is in the process of forming a falling wedge pattern, which if broken out successfully, could lead to prices rallying about $1,100 on the upside from the point of breakout.
The U.S. stocks regulator Securities and Exchange Commission, has launched its own fake ICO HowleyCoins in its attempt to warn and educate investors to be wary of such fake ICO scams. When one clicks on the “token sale” tab on the website of HowleyCoins, the next page is for 25 percent sale. Clicking on the “buy coins now” tab then leads to a new page Investor.gov, which is SEC’s website for individual investors, where it says:
“If You Responded To An Investment Offer Like This, You Could Have Been Scammed – HoweyCoins Are Completely Fake!”
BTC/USD 240-minute chart: