Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
⋅
Just levels I drew on the daily a few days ago. Almost wicked the first resistance area. Just want to see how this plays out. More of journal entry here
Comment
⋅
My concern is that CBOE futures close on Sept 19th and the CME close on the 28th. Also, the VanEck-SolidX Bitcoin ETF was postponed on Aug 7th with the new decision date scheduled for Sept 30th. They are able to ask for I believe 2 more extensions totaling ~150 days (i think 1 more 60day and one 90 day; this puts the absolute decision to end of February.
With that being said, I could see them requesting another extension (conveniently) around the Sept 19th CBOE futures close. This could trigger another big dump. So, that's the major thing I'm watching and cautious about
@StephMoen, I think so too. The only question is, when? I'd like to see a pullback to the first red line to test it as support after it had previously been resistance - 7100-7150 area.. wouldn't be surprised by a wick down to ~7050-60 area.
StephMoen
⋅
@MonsterSloth, YES IT IS TRUE, AND AFTER THAT WE WILL GO TO THE UP