Hello great traders. Over the last few days we seem to be building a support around $4150. The shorts are very high, and I am expecting a short squeeze to shoot us up to $4700. I think it's more likely we will see $4700 before we see $3000. Could possibly even see $5800. Let's see what happens! Keep it simple. Keep it winning.
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Looks like bitcoin nosedived that support. Looking short now. If this day finishes in the red it's probably not a pretty picture. The Daily Stochastic RSI is ripe for a drop.
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Pullback. Will be interesting to see if it can break this resitance.
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You can see bitcoin came back up to $4150 and got rejected signaling the short. Also, STOCH RSI still overbought on the daily:
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Here's a good look at the RSI forming a head and shoulders pattern signaling further downside in price: