Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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We continued to mention as Bitcoin ( XBTUSD ) peaked that the volume was low... This low volume with the bearish signals that were developing was pointing to a drop ... Now, the trading volume is starting to go up...
We have big volume on this drop and the indicators going full bearish . Prices moved just below MA200/EMA200 on a long-wick, now with EMA300 (gray) as the next target.
Based on the chart above, Bitcoin can easily continue to drop . Our targets were first aimed at $9000-$9200, but now it seems that prices can go lower. Let's wait and see how the daily candle closes. The details are marked on the chart.
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Namaste.
XBTUSD (SHORT) with 75% of profits collected (10X leverage)