Bitcoin – when dump?

Hello, everyone!

Yesterday I executed the short position and it’s wondering that it’s still active. After the last short trade was unsuccessful I am trying to catch the very high again to be in short position while the final bear market dump will be according to my main global analysis. To be honest I don’t think that this trade will be successful too because BTC doesn’t want to drop, but according to my strategy I have to use this short signal.

We can see that the price is above than 0.61 Fib, but close to it. Let’s take a look at the trendline 1. It was broken to the downside and successfully retested, which is bearish signal here. But the price is still above the trendline 2. The breakdown of this line is going to be the strong bearish confirmation. The divergence was only with the MACD histogram, but now the MACD line divergence enhanced the bearish signal. Let’s wait and see what is gonna happen.

Good luck!

DISCLAMER: This is not a financial advice, do you own study before making a decision on the real market. If you decided to follow the idea in this article, please restrict your risk to 0.5%-1% of your entire deposit.