Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Bitcoin price fell from 11,217 to 9,616 However, price bounced strongly from days low to 10,281 The support line that broke at 10,000 is once again building up allowing opening long trades.
This, however may not be the end of correction, so use tight stop loss and watch price action carefully.
Trade active
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10,049
Comment
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Price fell below our buy price. I'm using a tight stop loss as it may very well be a bull trap.
Stop loss active at 9,949
Trade closed: stop reached
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Comment
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Even though this trade is closed due to tight stop loss trigger, we can see that the price is clearly moving the upward direction.
Just a word of caution, it's not a good time to go short :)
@akhalifeh, bears are facing a lot of resistance, some analysts talked about downtrend to 4K. Observing the great resistance at this level I would say it is difficult.
CryptoNo0b
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@akhalifeh, Different analysts have different views. The way it's holding and bouncing from 10,000 each time tells a different story.
akhalifeh
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@CryptoNo0b, I agree. BTC despite all FUD continuous news is alive and strong!