BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
I am a bear...I love to short everything not just bitcoin ...I don't know why but I just enjoy the short trade much more than the long. If this was inverted and a coin or stock was printing this kind of RSI/VOLUME divergence coupled with a wedge ...I would be shorting it pretty hardcore, SO that being said I think based on technicals we should see a pump out of this range at any time

If we do see a dump out of this wedge that would be an incredibly bearish/weak signal and would prove to me my hypothesis of triple digits is on point. If the bulls were going to make a stand I think it should be now.
Comment: Update- falling wedge has been broken on volume that is not great but above average...after a retrace I look for at least one more wave up if not more. A close abve the 65 4 hour EMA, which has not been done in this downtrend would add weight to the bullish case as would a turn to green of the 4 hour hull which likewise has not taken place in the current downtrend. An agressive target would be 3950 and a bull target would be 4432. I am going to scale into longs from here down to 3200, If I get rekt counter trend trading then so be it. Remember the trend is still down but a short term reversal may be upon us.

I know why. You haven't taken part in the bullrun and now are reverse profit drunk like everyone who got liquidated at the top. Have fun getting your head handed to you when it turns
+1 Reply
@qazen, I don’t think there will be a “turn” the balloon has popped its over the ponzi is on the decline down to double digits probably. But I do expect a short term dead cat bounce anytime
@qazen, and thank you for your comment :)
Dump and pump :D bottom is coming in next 48h . End of the bear market path :
texagg22 achoCRYPTO
@achoCRYPTO, nice!
I think you are right Sir pls pump eeet
+1 Reply
texagg22 sonofjack
@sonofjack, a 4 hour close above 3500 would be a great signal too long...if we dump out of the wedge and don't recover rapidly it will be very bad
sonofjack texagg22
@texagg22, I agree, expecting a reaction at 2.8k - 3.2k. Though I was expecting more reaction at 5k and 4k lol.
texagg22 sonofjack
@sonofjack, I don't know what your midterm view is but 1k is pretty much promised IMO...we are watching the collapse of what is known as a "hypewave". So mid term prepare for a lot more down but short I think a reaction is due
texagg22 texagg22
@texagg22, I think scaling into shorts above 4k is a great play, very low leverage of course
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