Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Active bearish algo target pointing all the way down to 2100. I think these pivots are very likely in use by many algos because of the reactions we got multiple times at the .236 (none of the other pulls from other pivots before the drop below 6K have any fib lines that line up in that 4140-4150 resistance area). We also got a pretty strong reaction so far at the 0.5 (multiple rejections). This algo pattern is based on assuming algo's will buy at the 0.5, defend to the 0.618, and flip or stop out at the 0.65 (other side of the golden pocket). Do the bulls have one more push up to get over 5930? I kind of doubt it, but you never know. I will be a big seller at 5790.
(NOT A FINANCIAL ADVISER, THIS IS NOT FINANCIAL ADVICE)