You should look for short options in a clear break of 5k. Currently BTC is falling to lower levels of $ 5100. The EMA 200 crossover is imminent of a deep correction for BTC that could lead to key support levels of $ 4900 that could trigger an assessment up to the $ 4365 price as the maximum inflection point before making its next bull run.
The price fell below Bitfinex Support as we expected. The confirmation is a rest and rejection of the S1 line that is now a resistance. Bitfinex is slightly more bearish, now with a break in the structure of the market. On the other hand, Bitmex is in a flat consolidation that does not give directional bias.
This could be considered as a zone of recharging positions for a market depth of the large whales that could then boost BTC to levels above $ 5800, its key resistance; as suggested by the Fibonacci retracements.
The current timeline until May 1, 2019 will be crucial to determine the future of BTC in the short and medium term. If a catalyst emerges in the next few days the previous scenario could easily be accelerated in a couple of weeks as we have projected in our previous post.
This is a bizzarra situation because the shorts will be under the pressure of funding and the price will increase as people get rid of the USDT by Bitcoin.
