XBTUSD - Very bearish short term for BITMEX:XBT by NeoButane

trendanalysis chartpattern indicator xbt xbtusd xbtusdshort xbtshort bitcoin bitcoinforecast

Shorting volume has been on the rise in the past three hours
RSI downtrending with no sign of a reversal
MACD crossover very unlikely
Crossunders on the EMAs

The faster MACD (EMAX Histogram) looks like there may be a dead cat bounce before the final drop. It can also indicate an underlying reversal trend, but when the indicators are this bearish it seems to be a mistake.

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