Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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This is the superbowl for bitcoin.
Will it close in the Weekly cloud @ ~8500? Will the TD Sequential close with a green 2 well above a green 1? Will the price find support on the .5 Fib line also right at ~8500? Will the price close above the downtrend line created by the wicks from 13.8k and 10.5k?
In my opinion, the Bulls executed this move too early -- they are now tasked with maintaining momentum for 5+ days, which I think will become increasingly harder unless they can continue to push it up. Something like this would have been much better to do closer to the weekend, to give the bears less time to react.
I suspect this weekend will be a BATTLE, as the bears are just lying in wait, perhaps licking wounds but preparing, and will time a strike when nobody expects it coming, probably over the weekend.
Everyone's been talking about a bulltrap for months and months, yet when it's finally potentially here -- everyone is calling for the moon, which is ironic.