Proven fact suggests to be friend with trend and experienced traders never think to open a position against trend. I am not agree with the definition of 'overbought' which created by useless indicators. Naked price chart is best to follow price action without other tools that tells you do x if y happens.
But, you cannot ignore the fact that crypto trading is completely different from other types of trading. Because, it is proven that buying and holding is profitable always whereas no other type of trading is not providing this kind of promises. By considering these, I believe shorting will be never profitable in crypto trading because you are just trading against the basis and nature of cryptos. Hence, there will be no point of debating about trading the trend here.
You can make money only on it despite of the situation unless if you have very certain strategy with it or an expert mentor to avoid losses or risky situation. Well if you don't have that or even a experience stop dreaming that you can make money in short term !
A well tested strategy or trading under mentors will be helpful for any trader to make money for any kind of market situations not just especially for down trend market conditions. I mean to say there will be no special skill is needed for shorting but it is same as for all market conditions.
hold instead to prevent regrets for the safety of your money.
Holding is a proven way of making easy money with crypto trading and this must be the right time to buy more for the sole purpose of holding for long term. Hope many people are making use of this current downfall situation of crypto space.