Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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• Price consolidation zone on the chart is clearly visible, with price hovering around the EMAs. • Safe entry would be on breakout from this consolidation, but that's boring. • Degenerate entry would be close to the triangle support near 6285. • Break down from the triangle pattern would start a pattern of lower lows, hence the stop-loss near 5985. • Stop-loss intentionally placed inside a liquidity zone. • There is a resistance near 7300, but if the wedge is broken, I'm placing bets on that resistance being a minor one. • Exit placed at first major resistance just below the liquidity zone at 8325.