BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
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2
186 4
61.80%
Comment: This idea is wrong.
Bitcoin price is resting above Point of control area thus resting on heavy support - demand zone.
Price will NOT move lower organicly. This is the bottom for bitcoin for now.
This trading range is a liquidity pool - only a stophunt and a stoploss/liquidation domino can unleash this pool downwards by liquidating highly leveraged longs.
Golden ratio my niggaz... Keep a eye out for 61.80% we are heading towards $5200
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Longs got rekt by a stophunt (check tensorcharts for the liquidations)
Only a longsqueeze initiated by a well-orchestrated stophunt can penetrate the POC and yes it happened. Now POC has becomes resistance. I'm def going short if price moves higher. High probability that a organic uptrend won't break POC.
Def not buying anything now, way too many un settled contracts.
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Price is above poc and it's extremely heavy support... a breakout above poc is likely to happen.
I think btc has found a bottom.
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ironflag ironflag
@ironflag,
Only a stophunt targetting longs can break this support area.
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