Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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BTC tried to regain the Tenkan this weekend but instead dumped making lower lows
We can see that the cloud did look like it might start to contract last a few weeks back but we have dropped lower yet again signaling lower price incoming unless we get a strong move up here
Kijun has crossed over the Tenkan on a very bearish cross
Price could still spike up and test these lines before making a test at lows
The lagging span has also crossed below price, which is another bearish sign
If bulls want to change the picture we are currently painting, they need to get on their horses and FAST!
Shorting a test higher would provide a better R:R but shorting with a tight stop here could prove to be profitable as well