Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Bitcoin needs to close above 9,857 on a daily candle to stay bullish. This will confirm Bullish SFP and will represent and will be a simple stop hunt move.
If that happens I have Plan A and Plan B.
Plan A Wait for a break of 10,750 and long the resistance turned support. Potential R/R ratio = 4.46.
Plan B Wait for a retest of 9,800 - 9,900 level to long BTC from there. Potential R/R ratio = 12.7.
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@jryda, a close above 10,789 and then retest of that level. You dont want to long when it is in 10,950 area. Better wait for a retest at 10,789 to also confirm that old resistance is acting as support.
Here is more details (has a plan for shorting as well):