kitkat16

BTC, support turned resistance. Time to short this rising wedge

Short
BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Volume is declining, price is rising into rising wedge , the 9200 area has turned from support into resistance and it's about to dump. Next major support around $8800, then $8400.
Easy short.
Good luck. Place stop loss above the recent high at 9500 area.
Trade closed: stop reached: stopped out very quickly. Bulls reclaimed the 9200 support area. BTC will probably range here for a while as btc dominance falls and the alt market has a mini bull run- which only happens when btc is moving sideways/ranging.
on to the next trade.

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