BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
1 hour chart. This Idea for next 24-36 hours.... First I see the 50 and 200 day moving averages getting way to far apart. This will fix itself In my opinion. The (blue) 50 day average will come back down to the (orange) 200 day average is the Idea here. Possibly completing a Head and Shoulders pattern down to the .681 fib level from the miracle pump. I see a Bearish Divergence as well on the RSI to confirm these suspicions. Also the sentiment has changed to Bullish almost overnight and a lot of traders think Bitcoin is going to go up and are long since breaking the long term trend line . This generalized logic is ripe for exploitation by these unscrupulous brokers we trade with. That force is just to strong.... x Not Investment Advice x
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