Ok, so I have re-evaluated after mis-calling the top (thinking previously it would have been around 8850ish). I have amended my long term down trend channel (will post a seperate analysis of just that) which coincides nicely with the following resistance at around 9950ish:
- Long term down trend channel
- May 2018 high of 9950 (red dashed line)
- White local resistance line
- Yellow local dotted resistance
This combined with MFI telling us to sell on the weekly charts, NVT just itching to sink us; and the two CME gaps that need to be closed (we have never not closed a gap in CME futures history) by June 30 - tells me this has to be the top!
Perhaps most importantly of all; I hedged a long on Bitmex which always likes to f#%k me over which is why I usually use deribit :)
- Long term down trend channel
- May 2018 high of 9950 (red dashed line)
- White local resistance line
- Yellow local dotted resistance
This combined with MFI telling us to sell on the weekly charts, NVT just itching to sink us; and the two CME gaps that need to be closed (we have never not closed a gap in CME futures history) by June 30 - tells me this has to be the top!
Perhaps most importantly of all; I hedged a long on Bitmex which always likes to f#%k me over which is why I usually use deribit :)
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Hit 9950 exactly.
