XBTUSD - Bitmex - Long Position, Average Risk, High Return
I think that we should bounce from around 2.9-3.1k ranges, after all that 6k drop we didn't really have an uptrend. This is where we should find support and have and ABC upwards to atleast 4k.
A. Should go slightly above 3.6k ranges.
B. 3.4-3.6k support ( depends where A will land).
C. Could get to 4.2k ranges, I'm not sure about that.
I will be laddering LONGs from now and try to shoot for 3.6k, if RSI doesn't show any bearish signs at 3.4k ranges I will continue to ride it to 3.6k before wave B.
EDIT: Ignore trendlines at RSI, they are saved from other timeframes
A. Should go slightly above 3.6k ranges.
B. 3.4-3.6k support ( depends where A will land).
C. Could get to 4.2k ranges, I'm not sure about that.
I will be laddering LONGs from now and try to shoot for 3.6k, if RSI doesn't show any bearish signs at 3.4k ranges I will continue to ride it to 3.6k before wave B.
EDIT: Ignore trendlines at RSI, they are saved from other timeframes
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