BTC short continued

Quick update this morning, with a longer technical article to follow.

Overnight, we had the payoff candle in the hourly chart taking the BTC price down to the 618 fib level around 6175, dipping as low as 6130 in the early hours of the morning. I had my take-profit set at 6150 which closed around midnight. I believe the bigger move down is still in play, so now the task is to find a point of re-entry.

One idea that I will be monitoring is a bounce off of the 618 fib back up to the 50 level and then another push downward from there. I'm not confident enough to go long, but I will be looking to short if we get the bounce. Until the next move develops, I will be on the sideline.

Back to my coffee, bacon, and eggs.