texagg22
Short

Bitcoin Seems Ready To Roll Over--3/1 R/R Short

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Shorter Term set up here, Bitcoin has printed a low volume ascending wedge all the way up to the edge of resistance, even if you are a perma bull a short here with this R/R is a solid set up...Worst case scenario you are wrong and get stopped out. The stoch RSI is also topping out at resistance and the regular RSI (not shown here) has printed bearish divs on the 4 hour and 12 hour. Can we go higher? Of course...this is just a solid short set up imo .

Good Luck
Mar 27
Comment: Trade still valid however we are retesting breakdown from ascending triangle...on weak volume...most of the moves in this range have been on weak volume so this is not suprising...I still think we get a test of the ascending diaganol before this thing breaks out ot the upside (if indeed it does)
Mar 27
Comment:
And stocks are in mania phase it would seem
+1 Reply
texagg22 dRends35
@dRends35, recession is inevitable but timing it is hard. If you look at fundamentals though...things are overall too bad for USA...biggest problem is government debt of course.
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dRends35 texagg22
@texagg22, Sounds like you're making a case for Bitcoin with the glaring vulnerability of an impermant debt inflated monetary system eh @texagg22
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texagg22 texagg22
@texagg22, i meant overall things are NOT too bad for USA :)
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