Trending within the long term channel - potential short term retrace to 23.6% around $6.4k will give good shorting entries. Bottom near $5.4k could lead to 61.8% retrace to the top of the channel which could align well with the delayed ETF
date in Sept which if negative or delayed could give good FUD and good shorting entries to push BTC
down to real bottom sub $5k if we're going to go there.
Ideas of not investment advice - merely a possible scenario where good shorting opportunities could present. Break of the trend line
will invalidate all scenarios.
Don't catch falling knives - trade with the trend!