Technical : We are currently in consolidation and has formed a bear pennant (Also looks like a Wave 4 correction). This only implies that probability of breakdown is higher than a breakout. Still it does not mean that we enter a short trade yet. We wait for either one of the confirmation levels to get taken out.
If long confirmation then target will be 0.0009...
>Top of linear regression channel and
>Completed AB=CD measured move
>SFP of 22 August high (if confirmed)
>Bearish divergence on H1 (again if confirmed)
Just for myself to see. If you were to go long here on Bitmex with say x10 margin. The Estimated Liquidation Price would be 0.000965 , which is lower than the low here. Its probably a safe play. So for talk sake. Playing 0.001 you could buy 100 and if it was to make this pattern and hit 0.0012 you would make 150% gains.
Margin trading is very risky always...
Hey,
My setup for short analysis for EOSU18 on BitMEX.
Idea - bearish dilvergence on RSI+price, should go lower plus elliott wave count can show we should have wave 4 retrace downwards.
Please share your idea's if you think about something.
