Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Looking to short.
Entry based on:
most recent zone of supply.
some important fibs
a low volume node that I think we'll be unable to thrust through
Top of 1H BBand that should serve as resistance
Target: Looking for a retest of the support area, but not too confident in breaking any lows on this TF. Looking to take profit around the candle bodies near support.
Stop based on:
top of supply zone
Low Volume Node in Volume Profile
Not expecting price to make a higher high before making a higher low compared to recent lows.
Hidden bear Divs forming on many time frames, so the dump may come before we reach that supply zone, in essence creating a lower low. After a major dumps, hidden bear divs are a dime a dozen, so I'm giving them less weight on this entry and waiting for price to trail up higher.
Will cancel short orders if Hidden Bear Divs play out and we dump prematurely.
Will not look to go long at bottom of range if short orders aren't filled. BITFINEX:BTCUSDLONGS are still too high and BITFINEX:BTCUSDSHORTS have not spiked. Does not give me high confidence in current support holding. Looking for Wyckoffian consolidation at this level.
Leverage: 50x
Order cancelled
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Cancelled short asks. Found something on higher TFs that's higher risk and lower probability that I like more. Will post at a later date.
I’m not an analyst just explain it clearly : we are at 7550 you think we test resistance first or 7200
AzorAhai06
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@aknyc1, The post is clearly labeled with "Short" Short means to sell. I would not post a short if I think we're going to support. I would try to open a long position at support. The fact that I'm shorting as price is trailing upwards, means I think it will reach the entry indicated and then go to the targets....again, which is outlined. I would not make sense for me to assert we're going to 7200 first. Especially when I explicitly stated that I'm "waiting for price to trail up higher". Please read. Thank you.
AzorAhai06
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it *
aknyc1
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@AzorAhai06, okay so you think it’s going to 7800 then back down
@aknyc1, Please see the description of this post. thank you
aknyc1
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@AzorAhai06, I didn’t and didn’t understand you think from 7570 we go up first then test support or test support first then up?
AzorAhai06
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@aknyc1, "After a major dumps, hidden bear divs are a dime a dozen, so I'm giving them less weight on this entry and waiting for price to trail up higher. "
aknyc1
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@AzorAhai06, after 8800 you think this thing will tank ?