BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bulls need to retrace, consolidate, accumulate and finally push through 7200 dollar with volume . Bears are exhausted until next fibonacci time zone and release pressure fase are beginning in the next cycle.
Comment: Ignore the short-interest ratio and use this study:
Comment: Pullback to support may lead to accumulation (cup & handle, https://www.investopedia.com/terms/c/cup...) .
Comment: Target was successful reached. Next step is to take short-positions. Target may be 7140 dollar at 7240 dollar.
Comment: Take short positions i.e. if TD sequentials show a streak of 9 greens and 2 red or more streaks. Check the Stoch RSI and pump strength.
Trade closed: target reached: Short-positions closed at 6400 dollar. I see 3 black crows in 8 hour timewindow. There is an opppertunity to go long if riskreward is acceptable. 3 Black crows are in the making in 1 day and 2D chart. Big momentums are still in play at the moment.
Trade active: Short-position on momentum and volume play. DCA short-positions and add more margins if needed. Close positions near stop-loss by adding as much close positions (BitMEX) to reduce losses. Then close all positions. Add/remove on momentum reversals.
Comment: Riskreward:
Comment: Dollar value averaging (DVA) is a strategy that I'm executing. I buy more positions on the reversals from the inside out: look at lower timeframes (15minutes) to get best entries and to load the stack. If your stop-loss limit is almost hit, buy as much positions before closing all all positions to minimize losses. The next days until 9-11 the bearish momentum of the squeeze is still in play. Check frequently if the bearish route is maintained!
Comment: The close lower than 21-EMA is a bear flag besides the release squeeze of 4 days. Don't forget to increase the margins to prevent liquidations.
Comment: Targets are lower lows: 6250, 6150, 6000, 5800 until 9-11.
Comment: 3rd Fib timezone may have a dump. Squeeze Momentums & reversals are simular.

Comment: Short positions limit loss closed. Wait for next play.
Comment: Best play is to resume bearish actions. Respect the stop-loss limits and do dollar value averaging for shorts. Marketmakers may manipulate with volume like today but the overall trend is downwards.
Comment: Consider previous bearmarket in 2014. It may happen again if the 200-MA is crossed over.
https://www.tradingview.com/chart/b8fjjR...
Comment: Comparison bearmarkets:
Comment: Bearmarket 2013
Comment: 4h shows probable high movement downards: declining rsi, stoch rsi continuation pattern, dump fase is growing, high energy burst of chopp.

Comments

The close lower than 21-EMA is a bear flag besides the release squeeze of 4 days. Don't forget to increase the margins to prevent liquidations.
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