ridethepig
Long

ridethepig | BTC Market Commentary 2020.01.10

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
It is important now for us to take a retrospective view here on the lows that we have been discussing. After the early stages in the swing, as you shall soon see, my dear reader, it is frequently very difficult to chase breakouts as they force into action. In our sense, you can see our opponents (bears in this case) are fleeing, so we should inflict double the sizings.

After the moves:


Bulls are fully aware of the dynamic in the structure and where weakness becomes complex (below 6213). So the play was to let bears hang themselves as much as possible on the $7,000 handle or at worst a test inside $6,000. Look at the sharp spike back out, we traded it live here, it was smart money pinging the price; it fits with the circumstances brought about by the long-term wave configuration.


Good luck all those tracking the breakout and as usual thanks for keeping the support coming with likes and comments. Jump into the comments with your charts and we can open the conversation for all.
Trade active
Comment: A superb breakup here in play...

Related Ideas

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out