BTCUSD: Closing shorts, looking for longs

BTCUSD has reached my earlier ABCD downside target of $6,600 and appears to be holding well with higher than normal volumes. Would be looking for speculative longs with confirmation upon break of red down trendline. 2 potential scenarios:-

#1 A counter-trend up move to $8,300 for c.+19%
#2 A higher low off the Feb lows for an ABCD target of $12,500, +80%