Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Defining as the majority of traders the las pattern as a descendant triangle, is typical the pullback to the neckline after breaking it.
If you see 233EMA on 12Hchart in the past, has been a strong accurate indicator of S/R. Is beautiful how now there's a confluence: - Support (now resistance) of the descendant triangle - 233EMA acting as a resistance. - Fibo 0.5 area from last high to this low.
There's a good opportunity anticipating PA. Usually is going sideways before trying 233EMA as a resistance, drawing the perfect pullback to the triangle.
Comment
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PULLBACK HAPPENING
Trade active
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0.5-0.618 should be the area of interest after a new bounce happening soon or later.
Comment
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12H 233EMA is now at 9200. First part of Blue line has happened (retracement) deeper than expected. Trend is bearish but EMA should be tested sooner or later.