Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Where is BTC in a macro view? What is key support/resistance?
BTC is in a correction, expected to be 2nd wave. We are just in the earlier phase of a new bull cycle. I think of a sideway move of BTC this month, prepare for new impulse wave on next month. Most of the things are on the chart.
Comment
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An update to the latest analysis. A bullish pennant is better to demonstrate BTC's situation than a descending triangle. As a result, BTC might test the lower edge at around $9600 one more time before having a good pump.