BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
After yesterday's remarkable green candle my model gave a Long signal for #Bitcoin. We have two positive signs:
  • Inverted Head & Shoulders pattern forming (A close above 6800 is required for confirmation. If it's rejected we'll have a serious downturn)
  • Long term Falling Wedge pattern can be broken up to form a rally

Meanwhile price should overcome three major resistances:
  • 6800, as stated above
  • 7175, Ichimoku Kijun-sen
  • 7750, a recent resistance

I should clearly state that this is probably going to be a counter-trend movement. If you're looking signs for a bull market, consistency above 9000 is your level.

Place your Stop Loss @6050 and don't risk more than 25% of your total capital.

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