Technical analysis by Theta-Digital about Symbol BTC: Sell recommendation (8/6/2024)

short entry: $54,800 -- stop: $56.5 -- target: $49.5hidden bearish divergence on 4H timeframe:scaling into short positionavg. short entry: $56,100holding shortdivergence keeps getting stronger. added to short position here at $57.5adj. target to $53.1cut position in half at $56.9chance for stops below last low being taken out before uptrend continuesdivergence cancelled -- scaling out of short slowlyre-entered short at $59.4added to short at $61,160added to short at $62,445maintaining short position here at $60.9reduced short at $60.6scaling out of short around $60.6