Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Just closed my shorts and will start to build longs around these levels. This seems like a Wyckoff Spring setup so I'm expecting an upside for June. First sign of weakness, I will switch back to short.
Comment
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Tweezer bottom on the daily and a full retracement from April's run. I wouldn't be surprised with a retest of the .50, .618 or .786 fib levels. Crypto sentiment is that it'll continue to dip from here so I'm betting long this month. Also, longs are being funded so I rather build longs right now.
Comment
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As I mentioned above, I would instantly switch to SHORT on the first sign of weakness. Closed my SHORTS at 5850. Let's give LONGS another shot.