Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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The smallest green box is most likely going to be a point to bounce from. This way we hold the channel, we get to the golden pocket of fibs, SME 200 is going there, if we get there the next 2 candles we'll have a td 9 buy signal and we are at S2. All good signs for a reversal to the upper part of the channel.
HOWEVER. If we don't hold this spot, buckle up because we'll go back down to 8-9K again IMO
Not financial advice DYOR Risk management is key
Comment
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It is also possible to form a channel like this but then we don't get a bounce of all those other indicators and just the channel and 61.8 fib, We'll have to see how it plays out but keep this one in mind too
Trade active
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Not sure where we go from here. Looks like it's all coming together on this chart, even with a TD9 buy signal (didn't show this on this chart because it really makes it unclear). But I feel like we're not there yet. I'm still leaning to the original chart where we hit the golden pocket.
Trade closed manually
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As the chart is looking now, supply volume keeps dropping I think we've reached bottom for now at 10.4K, we might revisit 10.4 again next hour or two but I think you should be watching the reversal coming in soon instead.
To summarize, price didn't quite reach the golden pocket, it came $25 short actually. (we might possibly hit it once more before running up but I doubt it) We hit the bottom of channel in the blue demand zone and are looking for a reversal