BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
I have some channels and ideas for today, lets check them.
I told that several times, macd shows them a big trend is coming and you see what happened and also I was talking about rsi and down trend.
So in my idea we have two options here as always, which one will be the winner for today? it will be more clear for me in a few hours, lemme explain this chart.
Rsi has a support line in a few days and it broke last night and we saw a big down trend, that line could act like dynamic resistance now, cross under happened in ma's and price formed a bear flag (not confirm yet).
We are still in dynamic channel by the support line which like the bottom wedge of the big ascending triangle I talked about.
I will confirm bear flag if I see a candle above green line and a respect to red line in chart(9650), I can confirm up trend if I see a candle above red line(9650) or breaking the resistance line in rsi (red line in rsi ).
In my idea we will see 9650 again and the consequences of failing in break it will be 8700, but if we break it, we will see another try on 10k.
Personally I'll wait to see the reaction of 9650, and rsi reaction to red line.
If you liked it, please hit the like button, share and write your comments and follow me, thanks for reading.
Take care, trade safe
Comment: Alright guys watch this one
Above 9730 means up trend, below it means downtrend.
>9730 => 9930, 10040
<9700 => 9280, 9000, 8700
Good luck guys.
Comment: Closing this candle below the line
Could be descending flag confirmation.
Comment: 9280 and 9000 touched ...
Waiting for last one
But be careful pullback is possible in this area