Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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BTC / USD TA
Here we are looking at 3 short term scenarios which are possible for Bitcoin.
SCENARIO 1 - BULLISH
In this scenario we find support around $9,000 - $9,400 with breakout before mid August.
SCENARIO 2 - BEARISH
This is most popular idea around bears. We drop towards mid 7,700 with wicks down towards low $7,000
SCENARIO 3 - BULLISH
In this scenario we expect breakout towards mid to high $12,000 We expect breakout to occur during first week of August.
Hedging your Longs/Shorts at these levels is your best bet if you're an advanced or pro trader. For safer trade you would want to hedge according to Scenario 3 while bears should continue targeting low $7,000 on firm support break of $9,250
Don't forget to leave a LIKE for support!
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Important thing to remember that directional movement is still bullish with longer term trend line staying in tact!
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To be in any active trade right now is extremely risky