BTCUSD: FEAR BASED SHORTS!BitcoinOANDA:BTCUSDjinweiangFundamental Narrative: Following the Binance hacks that occurred last week, it is in my view that the event has instilled enough shock and fear in the markets to warrant a mid-term bear market. This, in addition to renewed negative US spot ETF flows support a short hypothesis. However, the weekend phased withdrawal resumption and reported asset coverage compete with continuing confidence damage; exchange withdrawals are not equivalent to BTC sales and the breach is not a Bitcoin-protocol failure. Technical Narrative: Given that there has already been a decent reaction off the lower grey zone after today morning's bullish opening, it is likely that a bullish impulse is not going to happen soon. I am taking a short from the higher grey area, with defences in place, such as the red VWAP and the 5-day SMA. A clean break above 80,849 invalidates the thesis.