BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Currently seeing a Rising Wedge on the macro time frames, these patterns are typically bearish , but could see a breakout to the upside about 30-35% of the time.
If we breakout upward your target remains 6200. If we fail downward, there is a support at 5600 which is a daily pivot , there is a also a 4H doji level which will be your failure target at 5455.
If that level is broken you have a significant daily HVN (high volume node) around 5200-5300.
If that is broken, then look to 4800 as a significant support, unlikely to reach this level.
DMI is currently still bullish , but is constricting showing that the trend is weakening.


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