BTC NY-session dumped and swept the 64.5K low. This dump is nice for the shorts, but we're still within the same compressed conditions. With this dump we took out lows and stopped-out long positions. If you took the short from the 65.4K sweep we mentioned last week, I recommend to take some profits off the table and go BE if possible. Now that we took out the lows it's important to monitor if price bounces back or keeps showing weak momentum. Open interest shows that this dump mainly caused longs closing and not a lot of new shorts entering. So I'm keeping my Bitcoin shorts, but if price keeps compressing and squeezing further to the upside, I'm out of the 65.4K short. Volatility is low since last week, so I'm taking a lower than average expected move of the day into account for today.(Lennaert Snyder)