DemKos

Bitcoin MACRO Analysis

BITMEX:XBT   Bitcoin / US Dollar Index
In the past bitcoin has fallen back to the 382 very often. This key level either resulted in btc continuing the trend or reversing. Major factor is the double top pattern, when this occurs and btc test the 382 it more often than not breaks that level and makes a deep retracement. Right now we are leaning more towards a double top pattern. Which would implie btc is going to retrace lower. But with btc we never know, so if tether switches on the printer it can still hold the level and bounce up ;).
Comment:
Comment: Looking for a scalp long at the 10800 level. After a new reaction. Target will be around 12000 weekly resistance and 12500 trendline resistance
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