Sunday "cut" in the market right now has brought BTC above $91,000. Meanwhile, the P73 CryptoMarket Monitor gives conflicting signals with a three-hour difference - "Short-term average probability of continuing the downward movement in the market" and "Short-term average probability of continuing the upward movement in the market". An uncommon picture. In the case of #BTC, this is expressed in the fact that the price is in a stable downtrend on the 3-, 4-, and 5-hour time frames and in a stable uptrend on the hourly, 2-, and 2.5-hour time frames (extreme target - $93,208).
The situation is at a crossroads. For now, we are considering the short. But we will look at the picture in the coming hours.
At least for now, regarding the short - the best opportunity since Friday. The price has shown two Strong signals of a potential high on the 30-minute chart and has hit trend resistance since October 27. Therefore, we are waiting for a signal of a stable downtrend on the 5-minute timeframe to make a decision. As long as the price is in a stable downtrend on the 3-hour timeframe, such bounces make sense to consider as an entry into the short. The idea for the short right now - with a stop above the high of 91,760$. The closing of futures trading on BTC on the Chicago Mercantile Exchange (CME) on Friday at the level of 89,425$ supports the short.
Against the idea of a short - uptrend on the 2.5-hour timeframe. This often leads to an uptrend on the 3-hour timeframe (which is a signal for a long according to our strategy).
We are waiting to see which signal will be first to make a decision.
