BitcoinShort
BTC/USD Trade setup
Updated
Bitcoin is showing weakness here, seems that the bear are in control now.
Reason why I will short Bitcoin here:
1) We have a massive gap on the CME chart around $9600 (must be filled)
2) The fear and greed index is too high.
3) Bitcoin has risen from $9600 to $12000 without having any healthy pullback.
4) The history tell us that August has always been a month with huge dumps.
5) Bearish divergence on Weekly and Monthly chart.
Reason why I will short Bitcoin here:
1) We have a massive gap on the CME chart around $9600 (must be filled)
2) The fear and greed index is too high.
3) Bitcoin has risen from $9600 to $12000 without having any healthy pullback.
4) The history tell us that August has always been a month with huge dumps.
5) Bearish divergence on Weekly and Monthly chart.
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