Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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BTCUSD is consolidating tightly in the 15 minute chart forming what appears to be a bullish consolidation triangle that will break in the next few hours as it completes the final waves of this formation. A move of at least $1000 higher is expected although an equal move to the downside could transpire if the triangle breaks to the downside although it is less likely to do so judging from the Elliott Wave count.
Comment
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Bullish action on the 15m chart presenting a great long opportunity for a scalp to the $8300 - $8400 zone.
Order cancelled
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Bullish pattern failed, 7600s support level breached and BTC dumped significantly. When the parabolic trend line was violated as can be seen circled the selling began.