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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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.