Seems that Bitcoin is losing momentum from bulls. The ultimate test for now being the 50 period moving average (yellow).
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Forming a perfect head and shoulders pattern. If we do not trade higher than 8500 in the coming 6 hours, we are very likely to be going down from here.
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I'm still short. Do not be surprised if this is a Bull trap. We have experienced Bull traps on almost all of the previous stops in this downtrend.
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The fall to 5000 USD has started. There was a bounce of the support formed by the 200 period weighted moving average and the downtrend line. Just a matter of time before this is also broken. Then next target is 7800 USD, which should also easily be broken, taking us further down.
www.tradingview.com/chart/boWNv2aI/