Trading within narrow channel

BITMEX:XBT   Bitcoin / US Dollar Index
58 0
On Bitmex, we can clearly draw trendlines bordering the current short-term trend down within already down-sloping trend. Could be opportunity for a few repeatable short and close positions or one big one. I don't see any significant support anywhere near. Psychology also plays major role. We are down and we are heading further down for now. Look for volume increase and remember to set stop losses close above the narrow channel. When we find the support, there might be a short term twist.
Nov 24
Order cancelled: We broke out of the channel.
Nov 24
Trade active: It seems the whole trading channel moved upward or just widened. I am still confident with shorts.


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