@waasayhkhan, thanks for asking. Based on my placement of the fan, it seems that the .382 fib was once resistance, then it clearly turned to support, more recently being tested on 2 separate 3day candles, with 5 candles between them. That to me seems like a very solid support for the time being. The fib above us, the .50 fib, has acted as support once in the past. Has it now become resistance? While it may appear that the current candle being red is signaling a rejection at the 0.50 fib, the 2 most recent green candles had their wicks reach above the line, and the current downward motion might not necessarily be seen as a rejection of that 0.50 fib just yet. Of course, the wicks extending above could just be the result of improper fan placement, as there are different ways to draw it, but great care was taken in the placement of this particular fan, and I think that the way it is drawn now is the most solid of all the possible placements that I looked at.
Therefore, I think it would be wise to wait for the current 3day candle to close, or at least wait a bit for other factors to unfold because we might still break above that .50 fib line. Personally I don't think now is a good time to short... i mean, you should've been shorting at least since 53k if you were going to short. But if you must, wait for a clear break below the .382 fib that is below where btc currently is. The waves are a bit choppy at the moment, so if you don't already own, I wouldn't buy in just now either since you should have gotten in around 32k if you wanted to long. And don't forget, this is all within the context of trading on the 3day timeframe, which is but one of many timeframes to look at. And so... there are no long or short labels on this chart because... it's neutral. Hodl for now if you got it.