BTCUSD has been firmly rejected above the neckline, with pair failing to notch the close late on Monday and moving violently lower Tuesday:
Though this could just be weak hands getting shaken out before lift-off, that daily candle does not look very nice at all, and I see significant risk of a flat correction to 9200. I have been trailed out on half of my longs and taken profit on the rest of them in line with this view.
Initial support is yesterday's low at 10567, with a breach of there targeting the (broken) falling trend-line from December below 10000 (dashed line). That would be a nice trigger for a reversal, though my gut is telling me flat to 9200 is more likely.
Alternatively, this could just be a shake out and a 4 hour close back above 11000 would bring the neckline back into focus.
I do not see a long trade right now and I avoid shorting BTC, so I'm staying flat.