Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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Taking this trade only because i see a fractal with a 5 day consolidation and we are at day 4 of it . If i dont see a big up move in 1-2 days i will cut /re-evaluate idea and update it here. Bearish scenario have a worse realistic r/r
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Stop is orange line, price have no business under 3850 if im right.
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Here is what im looking for. Fractal from mid 2017
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And here is how i see it happening now. Price failed to sweep lows, goes into consolidation, marks up, makes attempt for next leg up, gets rejected, starts retracing but quickly gets bought up and then makes a big extension.
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Breakout from 5day consolidation just like i said. Now i expect green days with slow grind up. Orange now should be an unbreakable support for days. SHOULD.
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Nothing changed much, still expect no significant downsides till 4400-4500 area. My first take profits are at 4250 and 4423.
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Daily candle failed to hold above breakout level, price plummeted. Sadly, but fractal invalidated :C