Time to go long (or close your shorts bois) Long

Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Description

⋅ Dec 6, 2018 11:17 PM

BTC epic decline from 6k to 3.5k

Sharp counter trend rally and final sell-off. So far failure to break previous low of ~3400

Rising trendline on the RSI (or my substitute, ADP by @cI8DH) with now 1,2,3,4,5 touches on the 4-hour chart of bull divergence.

BTCUSDSHORTS near all time high again and sentiment super bearish.

Order book is bullish in the 3.5k range.

= Time to close shorts bois!

Comment

⋅ Dec 17, 2018 6:12 PM

So I called it a little early, but this little bounce has some good room to move up!

BTC is not out of the woods, but I'm enjoying the green for a change :)

Comments

DatCryptoBoi

⋅ Dec 13, 2018 8:44 AM

We might have another leg down after all. I have bought some BTC at the recent lows but considering to hedge it in case of any further decline

DatCryptoBoi

⋅ Dec 12, 2018 9:01 AM

Soon time to go long. I am planning to scale in long at these levels & if we drift down.

Reasons:
- Falling wedge
- 5 touches now of 4hr RSI trendline with bull div
- Still very high shorts + bearishness at an extreme

Rapid dumping down will mean closing long.