On Bitmex, we can clearly draw trendlines bordering the current short-term trend down within already down-sloping trend. Could be opportunity for a few repeatable short and close positions or one big one. I don't see any significant support anywhere near. Psychology also plays major role. We are down and we are heading further down for now. Look for volume increase and remember to set stop losses close above the narrow channel. When we find the support, there might be a short term twist.
Order cancelled
We broke out of the channel.Trade active
It seems the whole trading channel moved upward or just widened. I am still confident with shorts.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.