Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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There is a scenario where the market could turn from testing last ATH to re-testing this years low at 28K. Especially if the move to ATH was technical in nature (shorts getting squeezed, people buying new ATH just because = technical) A fall from here (63k) down to 28K is quite steep and compares to the Covid sell-off in March 2020. Notice how the RSI (Momentum Indicator) is far away from making a new high, suggesting a lack of momentum.