if we fall back down, we’ll likely retest yearly lows in the 5700 range (and possibly wick below). short are soaring past ath right now (too many people shorting @ 6k), we can expect the squeeze back up to be violent- the only qs is when.
if you went long on btc or scaled back into some alts, don't get too greedy
still expecting rejection between here and ~7100 for another leg down. take your profits
my thoughts are if we can break 6.8k with strong buy volume, we’ll pretty easily hit 7.1k or maybe even see a squeeze up to 7.7-7.8k.
alts are still a risky play, though they may likely outperform btc if we break upwards. our suggestion with alts is to only enter as many as you can manage (and actively monitor). if you have 20+ bags that you’re passively hodling, your portfolio will continue to get nuked if btc falls
if btc goes up, they will all go up. your average return on holding 5 alts vs. 20 will be similar
each week that progresses will provide us with more direction, and it's much safer to "react" than "predict." As you can see, we're currently in no man's land. The plan is obviously to long @ major supports and hedge short @ major resistances (bottom/top of wedge, cloud, kijun), but we must remain flexible with our biases.