Keep in mind we did have divergence as well as a - trend change warning sign on the 4hr, so if this trade doesn't work and ETH starts closing candles below the 220 mark or so (previous support from an earlier pullback), it may be time to consider getting . But until that happens, it's BTD expecting to keep trapping new shorts. ETH made a higher low on the 4hr on this pullback, so I like it here. LTC continuing to close consecutive 4hr+ candles above 100 is also .
As far as considering the other direction, if BTC loses 7500, we should see 7k rather quickly. There are trade setups possible shorter term, but every time we bounce makes breaching 6k and below in the near future less likely. I'm a buyer again around 6400 at least once if things get real nasty. I also see XRP $0.38 - $0.40 absolutely buyable. If you MUST short, don't hold past 8480 or so IMHO. BTC breaking above 8500 again could be rather explosive.