HunterMac27

XBT 1h - Looks ready to pullback a bit, still bullish in the mid

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BITMEX:XBTUSD.P   Bitcoin
Partly TA, partly instinctual. No real divergence is showing itself on any time frame, which suggest that this will be a pullback as opposed to a trend reversal. However the speed of the move and the introduction of notably increased sell pressure suggests a pullback. Yellow midlines will say a lot about either confirming a possible bigger reversal, or a continuation of the bear parade. Most bullish case is that the horizontal lines/EMAs play and we don't even see the yellows. I have a buy-stop set ABOVE the solid red line, being that I am fairly confident it will take an actual breakout to get there.
Short target - 3570-3600 // SL - 3821
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