US Marshalls seem to always pick the best timing for selling their , according to their limited medium time frame. This is the second time they sell after a breakout, plus extended and emotional rally, plus when hitting the resistance of the current one year .
price action is not looking healthy after this fast pump and dump from $315 to $475 and now $365. It should scare a lot of investors as big picture is not helping at all.
Plus Bitfinex is currently with lot of longs opened, $24 Millions, but only 4,000 shorts. So, there is room enough to keep going down.
Shorting from $380 offers a 3:1 Risk/Reward Ratio if setting stop at ~$390 (if current downwards dotted red resistance from $475 is broken) and take profit at $350-$340 (above green support).
Price still could bounce up to $400, if that happens that would be and even better opportunity to short at that point.
As usual I'm just referring to entry and exit levels, not any fixed round number. It will depend on price action.
Do your own research before trading.
Plus this pump&dump scares investors, it would had been better a slowly growth from $300 towards $500. Now all the traders have the money (and is not going to re-enter the system anytime soon) and weak hands have bitcoins... If no more weak hands start buying pushing to another rally, which is very unlikely, this is going down again.
It could go down a bit lower to $340's, but at the moment there is big resistance, so it's unclear and not a lot of profit to be made right now. Another possibility is sidewides or a bounce up to $370 to retest previous support.
I will be updating with the next interesting trade.