BTC Low sweep LONG play
BITMEX:XBTUSD Bitcoin / US Dollar Perpetual Inverse Swap Contract
Comment: The sweep triggered my stops before continuing in the anticipated direction. I underestimated the depth, having 1% below local low as my area - backtested to a degree. I was expecting a fast candle up to the shorting area, but the wick stopped short. It remains to be seen if price will attain the short level. If it does so in a steady fashion my short-term bearish bias will switch to short term bullish, as this will give time and space, reflected in the SMA's travelling in the same direction. In all that would be a reflection of momentum and sentiment to the upside.