balanar_NS
Short

Margin adventures: Potential of reversal to the upside?

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Good evening everyone,
I have been looking into playing with margin trading lately with crypto and I have been getting some decent gains. I highly advice though that someone needs to be very keen with their T. A. prior to entering margins.
Without further ado, here is my short term technical analysis on the daily chart! There's a chance to create a long position from the 6100 USD mark. It appears that the 6800 USD is the main resistance for this short term analysis.. creating an inverse head and shoulders pattern. Based on this pattern, it looks like there's a good chance to enter from the 6100 USD mark for a long position. If you were to create a margin trade, ensure that the liquidation price is below 5000 USD to avoid fast liquidation if you were to sleep on this at night.
That's the higher risk. On the other hand, you can place a safer long position once you have a confirmation candle above 6800 USD.
This is my technical analysis for BTC /USD. This is Balanar, the Night Stalker. I stalk these charts.. day and night!

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