Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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As shown in the chart bitcoin sellers are losing strength, sell-offs are not as steep and take more time, while uptrend are still quite strong and fast. Sellers are not completely convinced yet as bitcoin is consolidating in this larger wedge and below the blue median ranges. I'd expect bitcoin to make a final sell test, if successful price will not make a new low test the range or wedge lower target and finally break out of this range of discussion.
Comment
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Target hit of 5227! Sold half here waiting for corrective price action for the coming days to re-enter lower.