Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Bitcoin managed to get back in the Trading Range and is now consolidating. Even though the recent uptrend seems bullish; the way that it ended, creates a conflict. To wait for a possible retest of a breakdown, seems like the wisest choice.
This analysis does not mean that bitcoin can’t/won’t go up. I am not in a short position, just yet. It means, if it breaks down the range then shorting becomes much safer with a better R/R, rather than longing it here right know. This is just an idea of how to execute a possible scenario.