Bitcoin overbought needs to calm down

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
269 5 7
Without any retracement this rally is doomed to fail soon. The price is climbing the stairway to heaven in preparation for the highway to hell.

Short entry: $249
Stop loss: $253
Target: $222
Great call with a very tight stop! Nice going!
+2 Reply
ChartArt timwest
I really appreciate your comment. Thank you!
I still view that price action as a mean short squeeze. Although I got stopped out of my short at $246, I also believe that potential downside could still be on the horizon.
One person on Twitter reporting stop losses being erased and market orders not working on bfx. After the shenanigans last night, I wouldn't depend on my stops working reliably.
I did sent bfx yesterday an email (before their statement on twitter) concerning my margin trading account. It showed abnormal figures. Still no answer. They are working on it. I'm waiting. It looks like they have a bug concerning the margin account.
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