Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
⋅
In my opinion, the area between 7800-7250 is a chop zone. There appear to be events on the market which cause these huge dumps and subsequent pumps. Tinfoil hat time, but someone (or something, ooooo) is accumulating a lot of BTC.
That being said, trading in this range is essentially a gamble in my opinion. For now, I am staying flat and waiting to see what the market will do either at the 7800 range, which is a decent resistance level with previous support and 2 FIB lvls, or the 7250 area, the average of previous 2 lows.
Doing good trading does not mean doing EVERY trade.