BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
With the break of resistance described in the previous chart we now have a new swing up and a nice green daily candle about to close $670 above its open price.

After a brutal bearmarket after which many said more blood needed to follow yet, the market has found support several times and is testing the upside again. It looks like Bitcoin is getting its mojo back.

As we used to say, "the King is back!" whenever bitcoin did another big surge up in price putting big pressure on the altcoins traded in btc . If you are not familiar with this you can read up on our article on our website:

The Fibonacci levels in this chart show where I prefer to add to a long position in case we retrace here. (retrace= make a dip in price after a move up)
I use a stop below the 0.786 as that deep of a retrace would invalidate my idea of a continuation attempt up from the Fibonacci levels.
I am not saying we will retrace right here, there is not enough price action for me yet to see but I will buy the dip if we do dip here ;)

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