Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Yo! What is UP? Not BTC, that is fo' sho'!
Lots of stuff here, a lot to absorb, and a lot of nonsense and shenanigans.
Mostly what we can see is a super successful 100% retrace of that last whatever you want to call it and we are back at a point that would be ripe for a triple bottom in almost every other asset class.
THIS IS NOT EVERY OTHER ASSET CLASS! The corn don't care.
BTC is heading down and as the 50 and 100 Day MA race towards the 365 MA in an effort to see which MA can be the true indicator of doom we will see more red. I've marked a completely arbitrary point of possible reversal at a significant fib line and highlighted a massive descending wedge. Also called out is the Mother of All Bear Channels.
If you use stops, be very very careful. Bart can see your stops and he'll tell his friend spoofy the bot to hunt you down.
Good luck, remember to sleep, that is the only thing I advise and as always....charts are silly.
You are surprised to see my bitcoin analysis
@Crypto_king100 is my channel