Daily analysis XBT/USD 010

Hi everyone,

Back with another view of the XBTUSD.P contract on Bitmex.

Let's start with the daily which is looking like it's about to go trending after 7 days of range motion between $6750 and $7300 , we might have a zero candle (that doesn't say much about the market) which might shake off some early shorters or buyers.
We are also squeezed between the descending trend line and the bottom of the channel.

In the hourly chart we have a better idea of how the trend/range cycles function lately and depending of your style of trending you have multiple possibilities.

For Position traders, well here you clearely want to use higher timeframes so the hourly can't tell you much , but it can help you for entries

For momentum traders, tread lightly, you might get burned if you are not careful, as for position traders, use higher timeframes to confirm your assumptions and remember DON'T HOPE as wishful thinking gets accounts rekt or eaten partially.

For Swing traders, you have a range that is getting shorter and shorter some fakeouts are on the way.

For Scalpers, well 1-5 mins are your friend, we don't really offer 5 mmin analysis but you can have a general idea on what''s going on with our daily/hourly.

Follow us on live stream on Twitch for real time analysis and trading tools : https://www.twitch.tv/bitwolf_capital
Bitwolf Capital hedge fund : https://bitwolfcapital.com/

Some brief explanation on the tools used in our Twitch stream:

1 Leftmost columns - Last trades with a min amount of 50k - designed to show short term trend (can help scalpers)
2 Mid columns - Buy and sell walls - Unique tool that shows the order clusters at certain levels, we recoment dont to trade solely on this tool as fake orders come and go
3 Right columns - Combined orderbook - A unique view of 7 Exchanges with buy/sell levels and live orderbooks.

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