In this video we go through Perpetual Swap v Spot basis, Funding rates and Monthly levels.
At the present moment I don't see reason to risk playing shorts (unless taking 80% less of typical risk per position) simply because the risk is to high to be on the short side due to higher timeframe trend but that doesn't mean we should do all in with longs.
There is good chance to see another leg down to 9.6 - 9.2 range (if we don't get front run by smart-money)
Any leg dow down to 9k are buy opportunities due to confluence between technical levels and orderbooks. But in the video i also cover a third scenario hypothesis