As you can see BTC has followed my previous predictions fairly well. The final leg of this triangle is being completed in the shape of a channel or bear flag. Short term target 6400 then a possible bounce or consolidation around the 6000 resistance from the previous major low until we reach BTC's actual value. Since this triangle is symmetrical we have a 60% chance of breaking to the downside combine that with the fact that we broke a way bigger resistance a few weeks ago which puts more downward pressure on BTC and it's worth entering before breakout on a high price
I'd suggest a stop loss of around 7200 since according to wyckoff theory a break above that would mean a successfull breakout has happened.
What about shorts being at ATH? Don't the shorts need to get covered? If shorts are what's causing price to decline and there aren't any more people shorting, then it seems to be the inverse of buying at the top. Instead of the last people to go long getting hurt, it's the last people to short that get hurt. What are your thoughts?