Still on the sidelines for the most part on BTC and awaiting what will happen in the next few days. Current positions opened at 6700 and 6500 will stay open as downside is limited for now.
Scenario 1: Downtrend Holds and we go on to see lower lows and break through long term support and sub 6K
Scenario 2: Downtrend holds and short intrest piles up to break through support only to see themselves liquidated and a attempt to break the downtrend will be made 7K+ needed to sustain.
Scenario 3: Support Holds and volume picks up to retest downtrend.
WIll update if entry is made.
Scenario 1: Downtrend Holds and we go on to see lower lows and break through long term support and sub 6K
Scenario 2: Downtrend holds and short intrest piles up to break through support only to see themselves liquidated and a attempt to break the downtrend will be made 7K+ needed to sustain.
Scenario 3: Support Holds and volume picks up to retest downtrend.
WIll update if entry is made.