adyscorpius
Short

Bitcoin Bullish? Check again..

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The recent bull rally (or whatever little run it was), has been slowly creating enough FOMO in the retail investors, especially with the altcoin season bringing lots of old bags up to break even, some even profitable. However, the market seems to have lost steam. If you look at the daily chart , we're already showing signs of bull exhaustion. There is a bearish divergence on the RSI , and the MACD histogram shows a downward slope too...

Ideally, I'd start layering in my shorts already, as I already have been from highs of 9500-9700. A stop loss above 10200 would make sense, as market volatility could see a small push up before the final big drop .
And bitcoin beautifully agreed to come back into the zone. Target for closing short would be 8150-8200.
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