Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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This is a possible LONG trade for the reasons pointed below:
-BTC touched a strong Ascending Trendline and rejected it with an engulfing candle on the 1h Chart; -This touch on the Trendline coincided with a Support Zone of 33400-35000; -It also coincided on the Fib Retracement's golden zone of 0.618-0.65; -After the touch, price went up, retraced a little bit making a higher low and then took of his previous higher high, indicating a bullish move.
Use stop-loss, a good risk management and remember this is not financial advice.