I do not trade Bitcoin hugely but it will be interesting to see if the use of the MACD and how I normally use it transitions onto this security.
The MACD is about to crossover (shown on the chart) and as I am a contrarian, I would like to short Bitcoin. The fact it has volatility where other securities might not also makes this more of an interesting play. If you also add in a bollinger band you will notice price is starting to peel away from the upper 2 standard deviation band.
Because of this volatility I have got two targets, in case target 1 gets ripped through.