Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Bitcoin (BTCUSD) just had the first strong drop in quite a while, but this is no surprise, we were expecting this... Here you can see our previous analysis:
Now, the question is this, how much lower can Bitcoin go?
We are looking mainly at EMA100 on the daily time frame, but EMA50 goes first. I would say our next stop goes at $4680 depending on how the day closes, but this retrace is just starting and it can take a while to fully develop.
Here is our latest Bitcoin (XBTUSD) trade:
-------------- Trade: SHORT XBTUSD
Leverage: 10X
Buy-in: $5400 - $5500
Time Frame: 1D
Targets:
(1) $4970 (2) $4710 (3) $4500
Stop Loss: Close 1D above $5650.
Liq. price: $6029 (Buy-in calculated at $5460)
Profit Potential: 213% ROE
Capital Allocation: <10%. --------------
Feel free to hit like to show your support.
Where do you think Bitcoin is headed next?
Leave your comments in the comments section below, and remember to hit like.
Namaste.
Comment
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Note: The buy-in price for the trade above is already gone, the targets are valid on the way down.
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Binance Coin (BNBBTC)
Tron (TRXM19) for 140% ROE with 10X (BitMEX)
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openANX (OAXBTC) prepares for Round 4, over 250% profits potential...
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Looks like we have some volatility coming back into Bitcoin. This is really good for trading. This is good for us and the market.
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S&P 500 (SPX) Latest Update
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Ethereum (ETHUSD) Descending Channel
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The next red candle for Bitcoin (BTCUSD) will be a lot bigger than the last one, but it will take a few days to show up.
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We can see a rejection by EMA10 on the bounce, making BTCUSD a little bit more bearish. Our targets are valid and waiting to be hit, great profits potential here:
Folks, look at it this way, the more these whales and little bears sell, the more they have to spend to buy back in, especially if prices move higher than they anticipate. They can only do this for so long. As prices get higher and higher, more and more whales will be flushed out of the market. Keep in mind there is a limited supply of Bitcoin. At some point, these whales won't have the funds to purchase big bags like they do now. When it gets to that point, then it will be a level playing field. But it may take 5 years or more to get there. Cheer up, bulls. :)
AlanSantana
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@kardia, Thanks a lot for sharing, this is useful and promising info.
Namaste.
mbc47
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I agree with Alan here..
And God knows it ain't often ;)
Cheers and Namaste.
AlanSantana
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@momtchev, Thanks a lot for sharing and your comment, appreciated.
TradeIndicators
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Alan! How are you doing my friend? :) Well, you nailed the drop right on time. Couldn't have called that better. We are currently short on this trade and scaled out 20% since we are at support and we are expecting a move back up with the higher low formation. Prepping for the long trade to come right now.