I'm playing it cautious here and have moved out of alts into USD. BTC fell out of a rising wedge and has almost completely retraced its losses. However, the MACD looks weak and so does Bitcoin as it hits resistance. The whole market is contracting which is usually a sign of a pending big move from Bitcoin (up or down) Play this as you want, but I'll be on the sidelines until I see some more bullish price action from BTC and the alts.
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Needless to say I’ve abandoned this idea and gone long . I think it may have been a bear trap. With the market contracting, I think we will see a strong move up.