The SHORTS MACD on the weekly is about to cross bullishly. Expect shorts to sky rocket over the next week, as short levels break back into the long term channel thats been forming.
I expect consolidation of BTC price for the next week as it tests the 50WMA. Shorts will grow rapidly as the 50WMA rejects BTC price.
As shorts peak, we may see a fake out break out (either down then up..or just up) short squeeze, that pushes price up to about 6600, with a big wicking candle back down.
See 14th/15th August 2018 as the only example of this behaviour (and MACD cross)
I expect consolidation of BTC price for the next week as it tests the 50WMA. Shorts will grow rapidly as the 50WMA rejects BTC price.
As shorts peak, we may see a fake out break out (either down then up..or just up) short squeeze, that pushes price up to about 6600, with a big wicking candle back down.
See 14th/15th August 2018 as the only example of this behaviour (and MACD cross)