BTC has pin-balled between 31.5k and 28.5 for the past ~2 weeks. This begs the question of upside and downside targets in either direction as it related to fair-value and CME Gaps. To the upside, a series of 2 weekly, and several daily and 3-day gaps lead to a CME gap at 36.1k. To the downside, a weekly gap at 35.3k that was already hit depending on exchanges and a cme gap down at 23.8k. I personally skew to the downside especially if support at 28.5k is broken and holds below. Long/Short ratio for BTC remains at ~35, which is well above the 2-10 range i like to see the ratio in before accumulating spot BTC.