As of classical TA, a potential triangle indicating a further drop, could be forming. What it's says is basically that the previous drop is repeating.
What's interesting:
1) Key levels (around 6.2k - 5.8k)
2) NVT still indicating that #BTC has not bottomed out. (related strategy)
3) #BTC might even take a quick bull move to around 9.5k and not even break out of a bull flag.
Suggested strategies as follows:
- as you should do every month: buy. (long term)
- set your longs/shorts above/below the triangle but wait for a confirming signal. (short term)
- increasing long positions in the green rectangle.
My Short (related strategy) from around 10.3k is still active - I did reevaluate my SL.
What's interesting:
1) Key levels (around 6.2k - 5.8k)
2) NVT still indicating that #BTC has not bottomed out. (related strategy)
3) #BTC might even take a quick bull move to around 9.5k and not even break out of a bull flag.
Suggested strategies as follows:
- as you should do every month: buy. (long term)
- set your longs/shorts above/below the triangle but wait for a confirming signal. (short term)
- increasing long positions in the green rectangle.
My Short (related strategy) from around 10.3k is still active - I did reevaluate my SL.
Note
Keep a close look at the 200MA 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.