I am sure that 1650 is a great entry for short.
Added 50 BTC there.
The signal for me was seeing that someone margin-long bought 150 btc sell wall at 1650, which seemed to be the last gate blocking XMR from mooning. However, this noob whale also put up a 350 btc buy order, also on margin, and it got SMASHED within 1-2 secs of being put up!
Incredible feat & whale fight. Since then, it has been apparent that whales are switching to exit mode and starting to dump on each other. One whale provides buy support to drive the price up, but other whale doesn't have problem dumping from 1640 where the price is to 1600 in one hit, where other whale put 150 btc buy support. Then another smash from 1630 all the way to 1580 where another buy wall was put and appeared to be safe... but wasn't!
Also, BTC loans are almost depleted; around 1000 BTC available in stock for borrowing.
All it takes for XMR death is for ETH or any other margin coin to start a rally.
My base is improved to 1600. My recommendation is shorting asap ^^
Happy trading! ;)