Looks like XBTUSD is going to retrace from 16.5k and has already started moving. I suspect the cause is the price/RSI divergence that started setting up around 22:00 (Pacific) on Christmas day and has now almost exactly 24h old . I've yet to calculate my target exit price so I'll update if/when I get a moment - any contributions with your analysis on exit price more than welcome!
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Comment:
I closed my short at 14.6 this morning - the optimum excite point was 14.5 but I didn't want to risk it in case I was wrong about the double bottom. Looks like it hit the 0.23 fib level, which was my dream retracement. I'm happy!