Short-Term Bearish Case for Bitcoin

I decided to smoke a little crack and play with this chart. Anyone else have the same tinfoil hat on? While I do not think the bottom is in yet because I think each market cycle in Bitcoin will take longer to turn around than the last with more players involved and if that's the case things have been happening too fast. Of course the short positions on Bitmex should be considered which seem to favor a move up. Also it's important to consider the timing of the upcoming halvening. I'd be more than happy to be wrong and have a plan for either scenario. Buy Bitcoin!