[Short] BTC bearish signals, how to hedge
Daily charts show a pattern with TD sequential, MACD and RSI over the last months that indicate a large pullback is possible with BTC sitting close to its all time high. Daily TD sequential is also confirming room for a reversal downwards.
Historical pull backs show potential of going as low as 5000. If a pullback occurs, pending buy orders can be placed in the 5000-5600 range. Depending on how the market will react, Bitcoin Cash can prove a strong hedge against BTC.
If BTC follows historical trends, there are large gains to be made if going long at 5000-5600 level. Keep in mind that with the current prices Bitcoin Cash mining has become more profitable than BTC.
Historical pull backs show potential of going as low as 5000. If a pullback occurs, pending buy orders can be placed in the 5000-5600 range. Depending on how the market will react, Bitcoin Cash can prove a strong hedge against BTC.
If BTC follows historical trends, there are large gains to be made if going long at 5000-5600 level. Keep in mind that with the current prices Bitcoin Cash mining has become more profitable than BTC.