Looking at BTC on the daily chart

* Willy stupidly overbought and has a M failure
*Still no structure in the histogram to confirm bullish or bearish divergence
*OBV M top but still hasn't crossed bearish
*Bearish divergence in volume
*Price wicked down to the .382 where on the CME chart shows a big price gap that needs filling
*Can the 50ma catch up to price to act as more support?
*We have a double distribution in VPVR with 2 big notches that need filling
*I do think we need to come back down to the 382 to will in that tail that BTC left

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Trade active:
Nice to see that Volume Profile here (reminds me I should renew my Pro...).

That "Willy is stupid" phrase brings back some old memories. It used to be a popular indicator around 2015 when I started trading and I used to hear this a lot. (Not so much around 2017 when I was the most active.) Is there an anecdote about how that one started? :D

I agree it would be healthy to correct into low 6k (or even high 5k) before breaking higher. But so far I had bad luck shorting it (last minute stophunts/bulltraps or simply futures prices taking out my stop by building a sizeable premium against the index). Long "scalps" or even knife-catching seemed to be more rewarding so far.
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