Honestly, Bitcoin is not looking great at the moment. I've been short since 9.4K (see my previous idea on TradingView) and I'm not sure the 7.3K area will hold this time around.
There's a good chance we get the death cross on the daily (50/200 EMA) and if that happens and we lose the 7.3K support, I'll be looking to buy more/exit my short around 5.5K.
We have...
Bearish divergence on the 4H chart is currently playing out, with Bitcoin looking to hit the 8.5-8.7k area and close the CME gap. This area also corresponds to 200 EMA on the 4H. Furthermore, RSI also dropped below its EMA confirming the short-term bearish move. Finally, TD also gave us a sell signal when the red 2 candle started trading below the 1.
Just a simple idea here. Went short at about $5,150 due to TD9 signals on 12H, daily and weekly. If this pattern plays out, I'd exit my short in the 4,400-4,500 region.