XBTUSD, 4H, June/16-22, Get ready to Sell


XBTUSD on BitMEX is on a heavy downtrend, and we see a pause in the past few 4H bars.

If the price falls below 6350, we may expect the downtrend resumes and since the major support since Feb/2018 has been broken, we can expect a major drop which is able to make a new low.

Exchange BitMEX
Action Sell Stop
Open Price 6348
Stop Loss 6566 Optional: Trailing stop to breakeven
Take Profit 5595 Risk-reward ratio: 3.454