Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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BTC is currently trading with a descending channel that appears to be forming into a falling wedge.
I will be looking to enter within the green accumulation zones on my chart with close stop losses indicated with the red lines. Stopping out so close to our entries allows us to re-buy lower essentially reducing risk and maximizing reward.
You can see the two scenarios highlighted with the white lines, I expect Bitcoin will choose one of these two paths over the coming days.