Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Although we did break out of the wedge, the current situation of bitcoin just doesn't look bullish. It is developing a descending triangle, and could be a wyckoff distribution just below the resistance, ready to repeat the march dumping. And once the trendline that supported the bottom of the wedge breaks this would immediately trigger more sell off and snowball. Invalidated if closed above the resistance blue line, in a bullish scenario it could briefly test 10k before a retrace.