Holding my Eth short, waiting to see where Bitcoin goes next.
Updated
Short on eth from 208 still. Really need to quit closing my eth shorts. I plan on holding this one a while longer and watching bitcoin to see if it makes new lows soon. Could grind sideways as this bear flag forms for a bit. I see 6500 being a possible target to the upside but the overall trend is still down, weekly looks pretty bad in my opinion. Failed to make a higher high and break weekly pattern. Shorts have come down and are no longer increasing even as we make slight lower highs on smaller time frames. The barts have returned recently. The daily pivot may not hold and I'm looking at 6180, 6000 as major support. If 6k support fails I think new lows will be made soon. Its absolutely possible we make a push for the topside of the meme triangle but I think 6500 will be very tough to get through. Any higher price would be short lived unless we manage to grind up again over the next couple months. Bitcoin is in a critical area and I believe the bear market will continue. However, anything could happen and I'll be ready with stops to flip bullish if necessary. All of this is simply my opinion. Feedback welcome.
Note
I linked a previous idea where I speculated how the weekly would print. Pretty interesting how it's played out i think.Note
Eth continued to break down as I expected. Closed my short completely. Contemplating scaling into a long but I will wait and see
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