Weekly resistance ordblock
Since March 2018 the solid strategy was been to counter trade the Bitfinex long/short ratio. Red is short. Green is long. Yellow lines are failed trades. Blue line is a 1 balance between longs and shorts.
Possible scenarios to react to, bias is bullish, confirmation at 8750
Short setup, although weekly chart suggests 8250 first. Risk of getting stopped out, so long a break of 8000 into next shorts setup
-18% already, +9% now, expecting -30% more now.
Let's see if the weekly holds as support.
Probably breaking down after a sunday wick above weekly resistance
Under weekly resistance and H&S Pressure, but still on neckline support.
BTC has 10 or 30% upside. That would mean Alt either goes up 3% or 23%, or if btc dominance goes down alts could do 15% or 40%. Altcoin chart suggest 15% tp be most likely and BTC 10%, in other words, BTC dom should go down by 5-7%
Short it between 4096 weekly resistance and 4242 daily resistance.