Short-term update for BTCUSD (#3)

As mentioned previously, we saw a brief long-squeeze down to $660.

$700 support has held, however, it seems likely that we will retest $660-$670 after a slight bounce to ~$715.

If that level fails, refer back to previous bearish scenario for BTC

Bullish Scenario.
Bounce off ~$660–670.
Followed by retest of $700 then $740.
Continuation of major uptrend.

Bearish scenario.
Support @ $670 fails.
Retest of $640–650, then possibly $610, $580.
Below $580 would be ideal buying opp. but <$640 is not bad either
(we might see brief long-squeeze back to levels mentioned above).
<$500 = almost total retracement (unlikely).

If support @ $660–670 holds, we resume uptrend.

Bounce off of $610–630 seems most likely.

We may see a brief long-squeeze <$580 which is ideal buying opp.

Still in overall uptrend, currently going through retracement.

Update:

We are now looking @ Bearish Scenario

For uptrend to resume we would have to consolidation above $660 with a successful run past $700.

edit: added update