This graph shows the longs vs shorts on BTC.. we can see Longs are battling to recover whith shorts picking up.
2 most likely scenario's
1. BTC retests 30k giving the W signal (double bottom) and bounces off giving confidence in Long market. This should push us up above ATH and possibly go for +-75k (fomo could push us to 100k)
2. BTC doesn't hold the 30k double bottom and goes down to retest previous long standing ATH... This would hedge until confidence picks up and we could see this push us into a Bear market
2 most likely scenario's
1. BTC retests 30k giving the W signal (double bottom) and bounces off giving confidence in Long market. This should push us up above ATH and possibly go for +-75k (fomo could push us to 100k)
2. BTC doesn't hold the 30k double bottom and goes down to retest previous long standing ATH... This would hedge until confidence picks up and we could see this push us into a Bear market