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