Jumping back in where we left off it seems our "bearish" call was the correct move. However we seem to have to not have followed the structure portrayed in that chart. Congratulations if you played that and held through the ups and downs until the target was met. Now for the big surprise. I think you have another shot at a very similar set up.
We have seemingly have formed a descending channel in what can be seen a very complex WXY combo (common for a B wave). The internal structure is very valid down 2-3 degrees lower. With long contracts still outnumbering the shorts I again find it hard to want to jump in line with just about everyone else. With the H4 failing to cross the X range pivot with conviction the SRSI has began to run away from PA. This is also known as hidden bearish divergence and is a clue to the internal WXY structure for what I assume is B wave. A move below the bottom side H4 pivot is a sign that bears are in FULL control and lows should be swept.
Everyone in the cryptosphere (minus a few Elliottitions) has seemed to hop on the "falling wege/decending channel break out". Sometimes the most obvious of trades are the ones you shouldnt take. Could this be one? I am one to think so, hence why our counter trade against what seems to be the masses.
Only time will tell but if we fail to move lower in the next 48hrs i will probably scrap this and look for something else a tad more bullish for the med term. I give us rules to follow in regards to PA and closing action. Follow these ideas and it should keep you out of the bad trade and losses minimal in the case we are wrong. Trade safe and always remember to practice good risk management