Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Looking at the weekly volume profiles, Last week bitcoin failed to shift value lower for the first time in 4 weeks
It did reject the 7100 area and filled in the gap on the weekly profile from the 9th April
I'm looking for bitcoin to hold the retest of 7500 (last weeks POC) and move price above 7600ish (Last weeks Value Area High + and key level from 9th April)
If we can accept higher price and build value above 7600 then 7900 + 8200 are in play
If we drop below 7500, i would expect last weeks Value Area Low to be tested @ 7284
Tight stops required, if your more risk averse there will be opportunities above 7600
Comment
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It blasted 200pts up just as i posted this, made a high of 7700.
Would like to see price pining off 7600 and hold above this level
Comment
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Details of the gap we've filled in over the past 2 weeks. Was this what the auction process was trying to do before going anywhere?
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trade on but respect to the multitasking social traders, thats a challenge
Comment
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Still bullish but wanted to see 7600 hold, but we failed to make a higher high on the push up on Wednesday
However we're filling in the gap on the developing weeks volume profile and it will be a good sign if we can push above 7600 again.
If we break down below 7500, 7400 and 7200 are in play