Chart shows weaker and shorter bounces after peak in Dec '17. Combined with fading volume
and low volatility
leads me to believe we could see more downward movement. However, I am currently sitting flat and waiting for a better long entry as r/r for a short is not ideal at this level.
^ Here on BITMEX:XBTUSD
I have marked my initial target.
I am staggering bids from $5400 to $4800 with hopes to catch a wick down. Should all work out, this is the area I currently plan to build a core long from.