Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
⋅
After the latest moves there is a strategically interesting structure setting up for the year end flows. Here I am tracking a pullback towards $52,000 support for an opportunity to load for the next exchange.
In desperation, late buyers succumbed to the fomo which was buying the highs while sharp hands are taking profits (very similar to our latest ETH charts). Now that the highs have been taken, profit taking becomes apparent.
This excellent setup is remarkable not only for the transfer of the momentum, breakout, retrace, breakout, nowadays we consider wave 5 to meet at least the length of wave 1 which will take us at least above $75,000 with extensions (unbelievable) all the way at $217,000.
Comment
⋅
all dips are being bought aggressively... we might need to update the chart here
seems like it could definitely go higher after a shakeout