Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Chart shows current linear structure of Bitcoin. Currently approaching intermediate - term supply resistance. Break above it will likely result in some bullish momentum and 4K retest. However, should the demand fail to cover the supply - this will let the price to retest lower TR levels or make new lows.
Comment
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Broke the resistance and rapid cover of supply took the price to 4070 level. Still in trading range ATM and it is quite possible that Bitcoin is being distributed which can result in retest of lower levels. Definitely bullish if breaks above 4120 (AR).