Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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BTC seems to have found support at the fib 23.6 level for now.
1hr Stoch RSI is oversold and crossing up
CMViX given a 1hr buy signal
Wave 4 completed. 1 final wave probable
Anticipating W 200 EMA will be the reversal target (circa 4100)
Risks
*The trend is becoming exhausted and likely to be nearing reversal so caution should be taken *23.6 is not the strongest of fib levels and a further retrace to 38.2 is possible, which is also the trendline from Jan 2018 which has yet to be retested.
This trade played out to perfection. Took a bit longer to move than I anticipated, reaching the Weekly 200 EMA.
Unfortunately, I closed out this rade early (sob)
Unfortunately, I closed out this rade early (sob)