AlphaTradeZone

Bitcoin showing strong momentum. Next target?

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BITMEX:XBTUSD.P   Bitcoin
The price of Bitcoin is increasing quickly in the last days. We touched the 3D supply zone and rejected it with a large wick. This zone is a good place to hedge your spot bitcoin exposure however at the current state shorting will not be in your favor. Price may need to pullback into support in order to break the supply and reach upper levels. I would target 4350 since it's a level where many people would be trapped. Zooming out, price is not yet showing any bullish market structure shift. Trade carefully and don't get trapped.

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