It's true but sometimes it usually turns into a bullish signal  like double bottom or multiple bottom. I don't know why you are shorting while Bitcoin and general market is already on an uptrend signal. Maybe it's profitable to short for short term but you might lose a lot if your timing is bad. Buying and holding a coin is a good strategy on this accumulation phase.

Try to watch out on project that affiliated to Solana like Serum and Ray. They will surely pump hard once the strong uptrend move.