Xzhi
Long

Bitcoin (BTC) Possible dump followed by a rapid move up.

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Looks like a reversal structure. Bullish divergence and Bitfinex buy wall.

There could be a quick dump before a rapid move back up. Long the dump once it bottoms. I believe the buy wall will be broken but they will pump the price up once that happens. Right now we are at a critical level, so a fakeout drop beneath could be possible.

Thanks for viewing! This idea will be invalidated if we get a major move down, not just a quick wick.
Comment: I will scale in.
Trade closed: target reached: Closed for 3% profit.
Trade active: I will be shorting this now. Please click on the idea below if interested.

really clever trade, I took the long according to your signal but mistaken to exit the position, thought it could be end of the retracement before the second leg up, I totally ignored the long bearish candle and its associated volume, at least I've learned something here, I really appreciate what you do here, thanks a million
+1 Reply
mojey mojey
@mojey, to not exit*
Reply
ahahaha what a noob
Reply
Xzhi fl0ndra
@fl0ndra,

Ok? What did I do wrong.
Reply
Will be interested in hearing your suggestions.
Reply
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