The asymmetrical triangle broke to the upside against odds resulting in an epic short squeeze. The sharp upturn took a matter of an hour liquidating 40% of the short positions. This an whale game being played, and one of the reasons i've stated several times why you should not short nor margin trade. Never the less, my overall outlook on BTC has not changed much, it has simply shifted from bearish to slightly bearish. While perma bulls celebrate their one win out of a 100 im taking a more cautious and conservative approach. We have resistance overhead at 8,100-8,150 and do not believe we will be able to break it on the first try. If this is a change in trend this will be the first higher high of many. That is why i am patient. I do not think this is the end of the bear trend, but i also am not stubborn nor do i fight the trend. I will simply look for the next low, which will likely be a higher low. Due to this sudden strong movement it is hard to calculate where that low will likely be. I am looking for a down trend and a reversal candle on the 4hr. From there we will see more upside, and that is a movement we will participate in. The real strength of this move will reveal itself as true only if we create another higher high. Until then best of luck
