jakeno

BTC Shorts sitting low at demand zone. BEARISH for BTC

Long
BITFINEX:BTCUSDSHORTS   BTCUSD Shorts
BTC shorts have continued sinking toward the lows of a daily demand zone , whilst BTC price itself has failed to make much reverse-correlated movement in turn.

This means that the recent BTC trend channel break was a fakeout and BTC is heading to new lows around $3300 within the next month or so.
Comment: Lets not forget the 3rd wave trendline bounce (not visibly shown here) for BTC shorts, which is a further confluence that BTC needs to drop heavily