It seems that at least some traders had the same idea. Yesterday's volume was poor suggesting a trap. I took a small short position on XRP today. I'll go long if BTC goes above 53k. If it doesn't we may start to drop slowly and pick up speed as we roll down.
Commento:
Multiple bearish divergences have been in play for a long time. Most people have become extremely bullish so there is a very good chance for a turnaround.
Commento:
I wasn't far off from it. User @EuroMotif created an amazing chart with a superb overview of long term Fib levels on BTC. I am tempted to say that this is the beginning of the end. More shorts will be open if there's weakness on this support (.618). Preferred shorts on highly advanced coins such as ADA or Solana.
