Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Current consolidation is getting close to a resolution. Based on 4h chart we have anywhere from 24-48 hours to breakout of it. Of course it could happen at any time before that as well.
Based on higher timeframes I am biased to the upside, but both long and short are equally valid with this setup. Don't forget to use some kind of risk management! If you are using stops I would place the stop on the other side of the triangle depending which side breaks first.
Good Luck!!!
Comment
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Down it is
Comment
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Don't forget to take profit if you entered the short. Target is just a guide, not an exact close. Usually taking profit by closing parts of the trade is best.