We are in a very tight situation.
Wont talk about patterns because Ive seen a lot of TA and great people getting burned/bashed by it.
BTC is impredictable. All it needs is one daily bad news to change anything we can try to predict.
I think we can talk about theT heory of Caos in the cryptocurrency market.
In resume, the simple stroke of the butterfly´s wings can create a tsunami in the future.
If one bad thing happens today, even if its fake, it can spread and have dramatic proportions.
Nothing new here.
Just going to be simple and clear looking at the trend we are in. Currently and explicitly downwards.
At the moment, if we go below the yellow line we will start moving in an unknown space since early 2017.
This is not good at all!
Latest short position I have sold was back at around 7180 and 6800.
Now waiting to see what happens now.
If we can hold and resume growth. Then I will re-enter soon after I have more certainty about this market.
If we drop below yellow line, will continue waiting till I see some decent bounce at the 1-4h chart.
Wont pick it up while it´s dropping...