Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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BTC Bitcoin ponzi
The mother of all doom candles awaits btc. After multi-month symmetrical triangle, you think you are getting a break out to 5k?
Short zone: 3800
TP: 2700
Comment
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So far, so good. Funding has not been kind to bears in the past few days, but the long consolidation has proven to be distribution. I got 3550, and 3450 as next targets. The price has also ran into a wall of resistance which provides more confirmation. The MACD still suggests more downside is ahead.
Comment
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After my stop loss was hit at a PROFIT (Reminder: if you are in a winning position, NEVER let it turn into a losing one), I have RE-SHORTED the 3840 level after seeing a bearish megaphone.
This hell ride will be a fun one for those smart enough to notice this pattern.