Short term I'm still bearish and expect another drop to retest a range between $3000 to $3200 and possibly maybe even lower. It's possible that the price will try for the last one time to liquidate as many shorts as possible before falling further down.
I'm expecting to see the piercing through 200-week MA to the 233-week Fibonacci level which in the BLX hold the price on 3 occasions.
In the short term Longs once again started rising and Shorts are falling, so this creates a situation where it is possible to see more drop, since there aren't many shorts to make a big candle squeeze.
MACD turned negative and the price has formed a double top formation.
