BTCUSD / H1 : Possible timing for a "Dead Cat Bounce"I post that chart because I know some of you are going crazy about the bitcoin... is it a bubble or not..
Well let's make this straight... if you think this kind of price action isn't typically a bubble.. then you need to review your classics !
Of course this is a bubble ! The only question is when is going to burst.. That's a tricky question.. and trying to short a bubble require quite some experience.
Every trade need a technical background to support the scenario (otherwise it's just random betting.. and that's gamble.. not trading).
Using my mighty couple of indicators, PRO Sinewave & PRO Momentum , here's what I have :
We can clearly highlight 5 sell signal (confirmed by both Sinewave & Momentum). These will obviously act as resistances during the technical bounce that we may see next.
AND I SAID "MAY SEE" because so far there's not a single sign of bullish support on Sinewave and neither on Momentum.
Finally we can add the "BEAR TREND" confirmation that showed up when things started to get a little nastier !
Which means that until we manage to break a resistance, we're still bearish in terms of probabilities.
Anyway I still think that a pullback is highly probable, but I'll use it to find a short entry...
From a technical prospective, it's possible to short any of these resistances if a Sinewave + Momentum signal shows up under them.
It remains bearish until we remain below the resistance that materialized the bearish trend ignition... and that's at 18400... Which is also 76,4% retracement of the whole bear move..
CONCLUSION :
Bulls have now hell of job to do in order to restore the trend that has now switched to neutral (before going bearish if we fail to reverse the H1 current trend)
If they fail I think the next bearish trend cycle will be a lot more agressive and will potentially drive a market krash. But that's too early to speculate at this stage.
All I can tell is that this thing is no longer bullish right now and after such a rally, searching shorts is certainly the best option now. But still remaining cautious and not shorting nowhere without signals..
Hope this idea will inspire some of you !
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You can check my indicators via my TradingView's Profile : @PRO_Indicators
