The downtrend channel is still valid, but three green days lead the price to the top of the channel. The number of shorts is close to the maximum level from April, which was really the extraordinary number, and without that the current value is around the maximum for the whole period of time. Longs are pretty stable – they are much less affected from the price fluctuations. This also means that the next price movement should more likely to strike shorts, since it is much easier. Also, daily RSI is still close to the lowest level. Technically, there is a room to fall until 5.8k, it would make even more shorts positions to be opened before liquidating them, but it would be rather hard to go deeper than that instantly, since many buyers are waiting for that level. All of those mean that it is likely to go upwards from here than downwards. The key level is around 6.8k.
Comment:
Bulls are trying to push it now. With the same probability it may be a trick to make people buy before the next huge drop. I will not do it now.