We most likely had a bottom in BTC in the early morning. A classic abc formed and now the volume indicators I use are suggesting buyers are back in control. Yesterday really panned out as a nice short. I took profit near the bottom and took a 20% position short as we rose today, until the volume indicators started to turn on and I stopped out with a bit of a loss. I'm now 50% long. I don't have a macro count I am completely sure of but in my 'tentative' count, I have 2100-2200 as an important fibonacci target. So, we'll see how it reacts there. I'll start to scale out my long there but wait for a sign of selling before shorting. See the alt larger degree b and c on the chart. B's are never exact target but if we start to see an impulse down near the all time highs, with a turn in volume, we can stop the longs and look at short entries.
For a reference post on my approach to trading see:
https://steemit.com/cryptocurrency/@wildtrader/how-i-trade-cryptos-using-elliot-wave-theory
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