Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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A 5-wave triangle correction appears to be unfolding. Based off of the trend line resistance that stop up from breaching beyond 10500, I think we are moving through a D Wave bullish move to 9600 resistance.
I saw this a little late (half way through the channel), so I am not opening any longs to the 9600 resistance. If we fail to breakout after the D Wave completes and retest 9600 as resistance, I will short the E Wave.
Long 9000-9200 on support of Leg E to anticipate breakout past 10k