Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Long-term: (Out of frame) Ascending wedge with three bullish pennants forming. Mid-term : Rising trendline of the bullish pennant held, likely retest coming. Short-term: Descending wedge likely to break upwards after finding solid support on Rising trendline.
Comment
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Short-term: Weak break out of the Descending wedge, might break inwards and form a pennant on the support line of the MT Bullish pennant, else bounce in the crossing. Bounce expected in the 11400 - 11450 area. Closing target in the 11800 - 11850 area.