Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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We find ourselves in the middle of an important area on the 4 hour chart. A break of the blue trend line will gives us another leg up to the 100 EMA and my horizontal resistance of $6,771 A break of $6,300 where most of the volume has been (look at the volume profile on the right) will give us retest of the $6,000 area and possibly a firm break of it this time. A continuation of the 6k break will take us to the next horizontal support areas of $5,400 and $4,900. I am still leaning bearish as I have to follow the large trend of the weekly and daily charts.
Hope this analysis helps your trading as always. Good Luck!!