BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Hello dear traders,

Let's keep it simple.

  • Weekly:

    a/ Market structure: still intact bullish structure, but indecisive at the moment => No trend.
    b/ RSI: indecisive => No trend.
    c/ MACD: Under Bearish Crossover in positive territory. => Consolidation.

  • Daily:
    a/ Market structure: still intact bullish structure, but indecisive at the moment. Breakout of resistance right before monday close. Needs to followthrough asap . => No trend.
    b/ RSI: Indecisive. => No trend.
    c/ MACD : Under bearish crossover. Possible bullish crossover soon. Support needs to hold on price to trigger a bullish crossover. => No trend.

  • 4 hour:
    a/ Market structure: Bullish , tagged resistance and got rejected. Currently retracing. Really needs to hold and keep closing above 10450 dollars max to keep going up and trigger a daily play. Monitor a S/R flip. Breakout under the zone triggers a bearish scenario.
    b/ RSI: Indecisive. => No trend.
    c/ MACD : Under bullish crossover. Possible bearish crossover soon. => No trend but monitoring a possible downside trigger.

  • Summary & trading plan:
    - 10450 dollars XBTUSD must hold based on closing price to let us swing a bit with a possible target >11k usd.
    - Currently doesnot look great and a retracement look more likely. Low 10k definitely possible.

    Still hedged, monitoring carefully. Favoring some downside for this week to be honest.

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Comment: Perfect call of the downside and we are now on the mentioned target of low 10k, congratulations for everybody who plays it with us !

High timeframes can potentially trigger a move to the downside that could lead us to 8k zone. People are not really aware of the cliff we could be on.

Low TF showing some support but i expect the downside to resume. Target is at least a test of 9k5. Considering the number of tests of this zone, and the fact that the bounce it provides are getting weaker and weaker, i dont think this support will hold, letting price swing to 8k zone.
Trade closed: target reached


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