Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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The target of our previous analysis was hit. Btc did a nice impulse up but is now stalling at a key resistance level. However the trend is your friend and the trend is obviously still up, hence we are looking for longs.
We are waiting for a golden pocket retrace as indicated on the chart to long, since this would effectively be a break down from the pennant we need to agressively manage the trade and will be taking partial profits at the line indicated on the chart.
A break and close above the pennant (shockwave block) would indicate bullish continuation and we'll be eyeing the 17k levels if it does.