BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Good morning! I made a whopping 2200% shorting from 10200 and hope you have been following my TA so you had your share also!

So the drop happened and you might be wondering how to proceed.

Let's formulate a gameplan moving forward!

The price action is trading near 8300 and facing short term resistances of 8500 and 9100 whereas the supports lie at 7500 and 8000.

Daily VMA is resting above near 9900, suggesting that the volatility is in the favor of the bears.

Bullish market structure is yet to be seen on the low timeframes so it would be wise to wait for a breach of 9100 or more conservatively 10000 to go long.

Until then, only short opportunities should be sought after.

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