BTC_JackSparrow

[Short] BTC bearish signals, how to hedge

Short
POLONIEX:BTCUSDT   Bitcoin / Tether USD
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.

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