AlphaTradeZone

Bullish scenario in play - BTC Technical Analysis

Long
BITMEX:XBTUSD.P   Bitcoin
The only bullish play I can find so far that offers an adequate Risk to Reward is marked in the chart.
BTC pumped through most resistances and a big retracement won't indicate a strong follow up. Price will either hold the upper block and pump more, or this was a huge bull trap.
Either way, unless price action develops there is no reason to take a forced trade. Instead look for opportunities in altcoins.

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