Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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I've outlined 3 targets to catch bounces if BTC correction continues to the downside. Each target is primarily based off the CME BTC1! gaps fills that usually result in a significant bounce. Each of the 3 targets also happens to line up with significant weekly support lines as well as Fibonacci targets taken from the market bottom and most recent weekly correction. I would be taking profit at the 0.382 retrace taken from previous local highs
Comment
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First target hit perfectly with a nice 7% bounce
Comment
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It also perfectly bounced to my sell target of the 0.382 retrace from the local top