Though I've stated this in previous posts, my current expectation is for weak bullishness near term followed by a strong break down before we put in a significant low.
- impulsiveness is with the bears, continuing to see weak responses from bulls
- macro descending triangle structure on $BTC
- #alts in steady downtrends, still calling for lower targets
On balance of probability, I’m expecting further grinding upwards NT - a micro version of the rally we saw in August.
On the contrary, I’m looking to enter short if the rally persists. Though I haven’t yet placed the orders, I may stagger asks between approx $6500 and $6650.
Primarily looking to short downside continuation setups on #alts NT, though I might open a small long hedge on an inv H&S.
- BTC VF short
- ETH (maybe other alts) near term short if setups manifest
- ETH knife catch long if we capitulate favourably
I'll update further as more data emerges.