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.