Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Hey everyone, this has been some times I haven't share any analysis, I've been coding some cool stuff here and there. Actually vvorking on a project for a friend, the Pivot Points Indicator, I'll tell you more about it in less time than I need to vvrite it!
So,
BTC/USD is in a pretty fat DovvnMove since the year started. June vvas supposed to be bullish, as usual in BTC history. "Thanks" to BTCFutures added to some exchanges last december the bubble some kinda exploded. Bad nevvs like some hacks here and there and some governmental policy pushing its prices dovvn.
Here vve can see than BTC seems to be bouncing from the last support it used before big bullsRally (5K8) last vvinter (for north hemishpere at least). Vve're still in a dovvntrend (log scale here) so this is considering as aggressive counter-trading, don't do it in company of children they could be injured OR damaged.
I believe it might come up early July to test 7k2 resistance, vvhich is also the top of the channel so far, and the base of the ichi-cloud.
If this 7K2 break isnt successful I believe in a deeper fall, looking out for a lovver support, to find some BullFuel! Or maybe a double bot at 5k8 but not sure this support vvould be strong enough to counter 7k2 resistance tvvice in a rovv.
Next eventual targets for a long could be 8k (TP2) round, and 8k8 (TP3). Also vvanted to say that if 7k2 is broken novv and holds as support, that could be the end of Bearish time this year I believe. Channel vvould be broken, cloud hard penetrated and my bank account blovving out... vvait I have non, vvhat am I telling..
I hope u all enjoy my trading Ideas Fellas, thank you for reading, and plz let some comments, positives/negatives, everything!
Comment
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Mixed signals right novv as alvvays in a bear market not many bulls vvant to shovv their asses. VVe still need a daily that vvould close above 6400 to validate the eventual bullRun/ 7k2 resistance possible retest/break.
Comment
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BTC is acting vvonderfully for July guys, I hope this helped you to catch pips!
Vve need some daily candle close above 6400 if vve vvant to go higher, test the 7k2 resistance.
Monthly looks VERY bearish, the last time it closed belovv 6400 vvas in september. And the october candle closed at 6440.
Either Bulls take market novv. Or bears could still svvipe their clavvs until 4k2-4k8 area vvhich is the next support on the monthly.
So vvait for that daily to close above 6400 or play aggressive as you like, but be avvare that it might only be a deadcat bounce!
luked15
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Why don't you use a "W" instead of typing 2 "V's"?
icebergREAL
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@luked15, cause if I vvanna use some "vv" I must toggle my keyboard from azerty to qvverty in order for my "z" to turn "vv". I knovv you're smart enough to understand that I got a defective keyboard :D Or sometimes I have one sitting in my clipboard vvhen I really need one, for example, coding stuff that needs proper naming.. ;) I hope you enjoy my analysis even if my "vv" key is broken!! Thank you for reading!
luked15
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@icebergREAL, I absolutely meant no disrespect. Thank you for your analysis.
Vve need some daily candle close above 6400 if vve vvant to go higher, test the 7k2 resistance.
Monthly looks VERY bearish, the last time it closed belovv 6400 vvas in september. And the october candle closed at 6440.
Either Bulls take market novv. Or bears could still svvipe their clavvs until 4k2-4k8 area vvhich is the next support on the monthly.
So vvait for that daily to close above 6400 or play aggressive as you like, but be avvare that it might only be a deadcat bounce!