Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Log resistance is broken. Bearish wedge seems to be forming. The apex of the wedge coincides with the horizontal resistance on 2018-03-12 at 9861. We've been climbing for too long to not see a correction here. When we come down from the wedge I'll be looking for support at the 0.236 fib level around 9200 and hoping for an upward bounce. If we break through the 0.236 we could be going down to test log downtrend for support.
Comment
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setting long orders around 9200 with tight stop losses