Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Nearing top of logarithmic resistance, we haven't tested this and it is more significant than linear! Stop-loss accordingly. Good luck, excellent short. When we hit 11492-11666, TP 10900.
Comment
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Entering target zone.
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We are now in the resistance zone, nearing logarithmic resistance line. Potentially forming a cup and handle before breaking.
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Shorting between 11775 and 11492
Trade active
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Our short target hit and active!
Comment
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10800-11000 seems like a good support, cloud is there too, should make a handle there if we want more up.
Trade active
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Chart is doing a great job! If you like my charts please leave a like, really appreciate it. You can also find my twitter and telegram in my personal signature.
Comment
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We went up again, bitcoin will now start to test for the first time since 6 Jan the major logarithmic downtrend line.
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We could be in a big bulltrap, so I would advice to short this line with proper stoploss above. If the line stands, targets can go below 9k longterm.
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Well first major target of this short would be 10250.
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We are seeing quite some divergence, volume still declining.
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Short targeg was exactly hit, let the bulltrap begin!
Trade active
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Short doing excellent job so far. We might even go lower.
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10400 is a range to open a long.
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We are at the bottom of the channel! Congratz who held their short. Personally I think one should add if it comes up and not close. I have a strong feel we will go below 6k longterm.