BITCOIN: Small short on the consolidation
BTCUSDT has been on a downtrend on the daily for a while now.
We broke down below the 50 MA on the daily wich means a very likely bear market.
Now we have pushed from the lows of 29K with a strong bounce off support, this area of support has been heavily battered with multiple touches since the drop from the ATH's
I believe this might prove to be a false breakout and we could continue the downtrend further.
Based on this I'm opening this short.
We broke down below the 50 MA on the daily wich means a very likely bear market.
Now we have pushed from the lows of 29K with a strong bounce off support, this area of support has been heavily battered with multiple touches since the drop from the ATH's
I believe this might prove to be a false breakout and we could continue the downtrend further.
Based on this I'm opening this short.
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