there was an announcement today that the SEC delayed the bitcoin etf decision

did not catch this in time, we’re capitulating now. might see a short term bounce here but this isn’t worth knife catching

might put in a 2-3x short hedge if we can bounce back up to 6900-7k

not looking good at all

going to stay flat for now- need to see where the next bounce takes us

exploring some possibilities of what’s to come...just ideas until the dust settles. imo we’ll need the sell volume to chill out a lot more if there’s any hope for the green scenarios

some thoughts on ETHBTC: long-term log channel has been broken, triggering alt capitulation.

it seems as though large companies & ICOs are dumping their bags. as oversold / due for a bounce as it looks, don't expect it.

ETHUSD: if $240 breaks we'll likely drop down to the $150-180 range

nobody knows when eth or altcoins will bounce- this will likely be at the discretion of BTC

thoughts on BTC: if history repeats itself, we could be forming a base (with a low of anywhere b/w 4.5 - 5k). this fractal needs to play out to salvage the crypto market

we could also see a pretty massive short squeeze if/when we fall to yearly lows. have some long bids b/w 5400-5700

if we can close the daily > 6260, we might see a short squeeze/bounce

up to 6800-7k

big if

current bounce is a dead cat bounce unless we break 6400

let me rephrase that- even a bounce to 7k could be a dead cat bounce, but if we break 6400 (or even 6350), we could see a short squeeze rally up to 6.8-7k

gonna remain cautiously bullish here, support @ 6220 with possible stop run just below 6.2k. upsid resistance 6550-6.6k, next stops 6800, 7k. this is just a short term rally until proven otherwise

a drop < 6100 = invalidation