Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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Good morning,
Bitcoin and Co. are experiencing another red day. I have said before, that one of the things I don´t want to see are two consecutive weekly candles closing below the Yearly Pivot. Bitcoin is just reaching a significant support zone and has to keep up this level and not close below the white key-level on this weekly interval.
The good news is, there is reversal volume showing a seller exhaustion developing, the bad news is, this is never a guarantee we are going to bounce from here. I have set for you the next possible low-targets in case we break-down. Also we are just on the edge to break one of the W-W lead lines, I personally would prefer not to close below this on the weekly.
Additionally the formerly mentioned diamond did not play out bullish here. _________________________________