BTC - Go all-in short already?

28 mar 2015

I know we all love to short BTC all the time, but wanted to list some things before going all-in 50x immediately :)

• Price showed a nice bounce near that RSI support zone. RSI showed a 12hr OS signal there.
  
• RSI div between the down-steps.
  
• Note the OS signals in RSI MTF pane. Last leg to 250 showed 2 timeframe OS signals, while the leg to 236 showed 3 timeframe signals. There still is the possibility of another short leg down to retest that support zone, expecting to see all green in RSI there if it happens. Usually, that is a good bounce signal.
  
• %R MTF has started showing OB on lower timeframes (4hr).
  

Will wait to see how the retest goes. Breaking down this 230 level in the next retest is a clear bearish cycle start, of course.

1D view:
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