Bearish divergence rally almost longest in BTC history
Since hitting RSI80 on April 2nd of this year we have been rallying for 38 days already despite decreasing. divergence is clearly visible on all time frames. When will the music stop? Nobody knows for certain but based on history it seems much more likely that coming months we'll go at least 1000 points lower than that we'll rally up more than an additional 100-200 points.
The most scenario I personally see is that we'll keep going sideways for a few days, having some stabs at 6000 to get weak hands out and to allow the big guys to enter some considerable shorts too (They should have unloaded most of their long positions already), but then it's down from there. A little more bearishly and more likely is that we'll see a surprise -15% day somewhere coming days like we did on June 12th 2017; which ended that past -presently still longest- rally.
You should worry a little less about short levels being relatively high and more about long levels being relatively low..
I bet you can't find an example in Bitcoin's history where after an endured rally, in a situation with high shorts and low longs, the next big move was *not* a price crash ;-)