Xzhi

Chance for reversal before further move down(?).

Long
BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
One of my few neutral ideas. I always hated them but there really is no direction in the short term.

Right now it could go either way. Mostly bearish , however right now there is a potential reversal formation that may take Bitcoin to 10250 - 10400.

In my opinion, if you are looking to short to 9k, you can probably ignore this.

Current thoughts.
Trade closed: target reached: 10400 hit. Now to see if it heads higher it is best to watch the price.
Comment: Market conditions change frequently.
Comment:
There could be a further move up. It is looking likely. This area should hold for it to continue upwards.
Comment: Consolidation in that area was not good. Broke down. Will watch and see PA.
Comment:
Volatility coming soon.

Not easy to predict to the upside or downside. Currently breakup seems slightly more likely. However, just an opinion, not backed by much.

Comments

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