Chance for reversal before further move down(?).

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.
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.
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.


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