BitcoinShort
$BTC bear flag series, shorts near ATH
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Unfortunately for any bulls who are still out there, lower volume on the weekend could prolong the pain. If there is not a fast reversal at the bottom, many altcoin prices will be destroyed. There has already been an ETH flash-crash on Coinbase bringing the price down to $13 from lack of buy orders, market sell orders and liquidations cannot even be trusted to have a floor in the third largest cryptocurrency. BTC should see plenty of short covering to at least slow it down around $3000. Longs being liquidated could create a crash to unforeseen levels however.
BTC should see plenty of short covering to at least slow it down around $3000. Longs being liquidated could create a crash to unforeseen levels however.Note
Stochastic RSI on the 15 minute chart is proving to be a very reliable signal for short entries on the way down.The same oscillator on the 15 and 30 min chart should work nicely for long entries after the bottom is in and the fast line crosses the slow line at the bottom of the chart in oversold conditions.
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