chrstphaubry
Long

Possible up swing following candle close

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Although everything seems mostly bearish after todays down move. It has formed a bullish divergence (yellow lines) at a very interesting level (which has served both as resistance and support june 13).
If it can hold this level until the candle close a bounce from this level (if it goes below 6255 this setup is annulled) should not be excluded although OB is showing a very thin support.

This is not financial advice, just my ideas and thoughts.
Comment: So far so good, price has made a nice bounce just above the 6250 price forming the premise for the bullish divergence. There is one big hurdle at the moment and that is the 6400 level where the sell orders are mostly stacked. We have also bounced off this level twice now but I believe it will eventually be broken.
At that point we should see a considerable amount of buy power come into play.

Comment: There are some possible bearish divergences forming on the lower timeframes but if 6400 breaks these will be invalidated. Expecting price to bounce between 6300 and 6400 for the rest of the day for further consolidation at these levels.

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