Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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A few key points to review
- Volume has been increasing as this breakout from 67s occurred
- High lows are continuously being formed
- Gap to 7700 looks to want to be filled, as volume continues to increase and the orderbook for resistances looks thin between 7200-7700s.
- Traditional markets quarterly earnings will be releasing over the course of the next 2 weeks. As most earning reports will be poor, I expect traditional investors to hedge into other asset classes including Bitcoin.
Comment
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Sticking to the plan for BTC as follows with no changes for me at all per prior chart.
- Looking for a strong daily close above 7220 for me to stay in.
- If we break below 7150 on the daily, I will look to open additional shorts.