4th of July Fireworks?
Keeping it simple. If it breaks the red line we are going much lower, period. However we all like to catch a few knives in our lifetime... Sooo, given the nice bounce off the bottom side of the wedge, which was mostly funding related, I may scale into small long positions if that red line holds. LIQs below 9100 are ideal. This is very risky because I can see a strong down move bringing a wick down to 9250-9450, so your SL really depends on your risk level. I personally will probably trade within the wedge, shorting in the blue line area after several confirmations and scaling into small longs if the red line holds. I will probably hold shorts longer than my longs - "the trend is your friend." Either way I will be doing a large amount of spot buying between 9000-9500 if we get there. Don't FOMO short/long after a big move, pay attention to high funding rates, large BTC xfers (whale alerts), and never trade the order book on bitmex, ever.
PSA: This is not financial advice :)
PSA: This is not financial advice :)
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