is not showing real strength and there is some divergence. However i don't like using indicators, especially with crypto's. These last hourly candles also don't look all that positive. I am staying flat for now, because i want some clearer signals. The 7350 is an important level now, if this candle or the next closes below the 7350, i will probably go short, but i do want to see a signal on a smaller time frame also.
If it bounces off the 7350 and gets above the 7500, than i will probably go long.
Earlier today i lost some points when i was short and it hit my stop at 7350. It should have stayed under that level for the short term downtrend to stay intact. I am flat since that loss to get a more objective few later on.
My guess is that it will drop to around 7100/7150, from that level i will probably go long. I just think it will stay within a range of 6800/7000 and 7500/7700, fooling everybody :)
No i am still short on Bitcoin, i wanted to see id the H&S on the 5 min chart would become a false move. My last comment was on that moment, thats why i said an acceleration would come. Now just wait and see. Still strong support at these levels. I am also short on OMG since yesterday, you can see it in an previous analysis
It is still showing alot of strenght, but it has quite some resistence at the top. We will see what happens. There will be enough action :)