Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Huraian
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While this past couple weeks have seen incredibly violent swings, I see this current period of price action as 'healthy' consolidation AS LONG AS BTC does not have a 4 hour close below the bottom most support line. If the bottom most support trendline is broken then I would look to around 8k area for next significant level of support.
On the other hand, if BTC were able to get a 4 hour close above the 18k area on heavy volume I would be leaning towards seeing new all time highs in the mid to upper 20k range before the next massive consolidation period.
Keep in mind here, BTC does see intense resistance all the way to 18k which would essentially complete a head and shoulders with under the 13k area to the downside.
Personally this is a no trade zone for me and none of this is financial advice just sharing my thoughts on the world wide webs.