In my previous post yesterday i called a breakdown in bitcoin. Shortly after we saw the price start to breakdown. On the higher timeframes (daily and 4 hour) we still have a bearish divergence working which has me still thinking bearish about the market. On the lower time frame you can see we are forming a bearish wedge as the price slowly climbs upwards. The ...
( (Bitmex June/19 contract - Coinbase spot) + (OkEX 3 month forward - Coinbase Spot) ) / 2
Basically the average premium in 2 months vs spot price
We should expect something ranging from USD 0 to 100 (0% to 1.8%)
Anything outside this range should be considered 'weird'
Can you handle this?
There is always the question where to exit in order to maximize gains... this is the one great way of doing it.
Yes, leverage can still be applied, no issues there.
Nobody can nag over... "trailing exits" you're doing it wrong... hahaha
There is more on my - S0C|AL M3D|A - inner circles.
Always open to chat somewhere, shoot me PM.
I am going to try to continue to follow this move in BTC regularly.
Here we are looking for a break over horizontal resistance ( blue ray on both charts ).
Using Bitstamp BTCUSD price this resistance is sitting around $4077.
Additionally, looking at Okcoin 3M BTCUSD futures this resistance is sitting at $3977 ( potentially already breaking ).
If we can get...