BTC is a little overheated

Summer is usually a low volatility time in the markets and this summer was no different. The success of ETH's EIP-1559 upgrade and the crypto communities JPEG summer enthusiasm propelled crypto out of the gutter.

However, BTC has been testing the lows and they look a bit soft. The range contracted at the highs, and now we have range expansion into the lows. As with any other trade, we're just going to follow the market until it decides to stop falling. It could be a small dip like on the left of the chart, or it could be a big drop. We just do what the market tells us to do.

Stats are from 1/1/2020 using ~2% risk.

If you like shorting, go for it. I prefer waiting for a lower entry to long again.