I find Longs/Shorts ratio being 50:50 while BTC is below 6500 very strange as that wasn't the case while BTC was at these prices before. Reasons are two-
1. Crowded Shorts = possibility of a short squeeze and also short covering- both pumps price back up.
2. Market participants would expect a dump if large shorts are opened. Especially after what happened earlier this month when large amounts of shorts were added near 7500.
Not to mention the sudden large buy walls on Alts prior to weekly close on Sunday which no longer exists.
To sum up - it would be impossible to push BTC price to lower lows while shorts are overcrowded.
Think about it.
Notice how 380-400$ acted as strong support from December 2013 to September 2014 . Bounced 4 times off that region.
Back then people would have said " 380-400 won't break coz it held for so long"
like "6k won't break coz we held 6k for these many months".
In fact, ToneVays target was 4.9k while Peter Brandt's target was 4.4k and did not expect BTC to go lower than that. Well, markets do exactly the opposite of what the majority expects..doesn't it?
So, interestingly it has gone down till 3650 which I marked as (3).. If we do a relief rally, ID say-
Target #1 - 4200/4400
Target#2 - 5.2-56.4 which is marked as (4).
GOOD THING - Faster Market Cycle completion comparatively.