Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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So we are still very much in a bear market atm. The price is extremely volatile. We can blame whales or market manipulators and the like (there is some very inorganic movements on BTC) - But never the less, it is still chartable...
For now we still reside inside of a weak-trending bull channel for the most part. This is -not- the bottom/end for the downfall of BTC (in my eyes)
I came to these conclusions were primarily based on: - Liquidity in the market - Previous support / resistance - Elliot Wave analysis (not shown here) - Long term (weekly) Moving averages (not shown here)
How long we go sideways for is a complete unknown, I believe we will test up near the 7K range before being rejected down towards 5K.
This is one trader that I follow, his TA is comprehensive, feel free to watch the entire clip and follow him if you desire.
YouTube Philakone - June 12th Elliot Wave TA - youtu.be/UsdI1rfVzIU?t=884 - This link is further forward in the video to cut out some of the fill...