BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
We may consider 2 possibilities
  • A: Pump pressure, trend movement (>45 degrees + high volume + breakout) may lead to escape from bearish area. Long positions have medium riskreward (strong bearmarket)
  • B: Head & Shoulders and dump pressure may lead to lower lows. Short positions have good riskreward for Bearish route.
As long the volume is not increasing and other Bull-requirements are not met the Bull case can be rejected and short position can be placed at BTC 6600 dollar or higher levels.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.