ViperTron

Has THE road to HELL Started or BULLS ARE still IN THE HOUSE ?

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Important levels are marked in blue horizontal lines

we are so tight ranged right now , bulls are holding the 6050-6200 area strongly and BEARS are holding the 6500-6800 area strongly , volume is getting thin and thin which is not a good sign though , we will have a volume spike within few the days and move can be either side

1. A daily close above the 21ema (orange line) near 6380 will be a good signal for the bulls but that doesn't means bull run will start

2. a daily close above the 6800 level is what really gonna show the conviction from the bulls and that would be a great signal to buy

3. we are just a bit above 6200 support right now ,, we are are creating a series of lower highs in a small triangle (yellow) ,, so yes if the 6200 breaks now , we have to assume that all the conviction from the bulls have been faded away

3. a break below 6050 level if going to fade away all the bullish cases for me

RIGHT NOW we are at a LEVEL where we cant be too much bearish or bullish because the major levels have not been broken yet


"Bulls make money, bears make money, pigs get slaughtered."
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